CFTC fines Goldman Sachs $5.5M over new recordkeeping failures
By 
Kyle Brasseur2023-08-29T19:51:00
Goldman Sachs was fined $5.5 million by the Commodity Futures Trading Commission (CFTC) as part of a settlement addressing alleged audio recordkeeping violations that followed a previous consent order the bank reached with the agency.
Goldman in November 2019 agreed to pay $1 million in settling with the CFTC over allegations it failed to retain certain audio recordings as required for swap dealers. That order contained cease-and-desist provisions violated by the firm as part of its larger penalty announced Tuesday.
“As this case demonstrates, the CFTC will continuously pursue swap dealers that fail to meet their recording obligations and there will be consequences for violating CFTC orders, including increased penalties,” said CFTC Director of Enforcement Ian McGinley in a press release.
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