(Finance) – The Commodity Futures Trading Commission (CFTC) of the United States stated that Goldman Sachs has committed violations for failing to keep records of staff cell phone calls and for violating a previous order. He then ordered the investment bank to pay a civil fine of $5.5 million and to cease and desist from further violations of the record keeping provisions.
“As this case demonstrates, the CFTC will continuously prosecute swap dealers who fail to meet their obligations of registration and there will be consequences for breaching CFTC orders, including increased penalties – said the Director of Enforcement, Ian McGinley – We are committed to holding swap dealers accountable when they fail to comply with their regulatory obligations and fail to comply imposed by previous orders of the CFTC”.