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Goldman Sachs to pay $120 million to settle ‘jacked’ rates case





Goldman Sachs will pay a $120 million (£97 million) penalty to resolve civil charges that it attempted to manipulate a global benchmark for interest rate products known on Wall Street as “ISDAFIX,” U.S. derivatives regulators said Wednesday.

The case against Goldman Sachs, brought by the Commodity Futures Trading Commission (CFTC), was the latest in a series of broad investigations into manipulation by big banks of a variety of global benchmark rates.

To date, the CFTC has imposed penalties of over $5.2 billion (£4.2 billion) stemming from these probes, which include Libor and Euribor, foreign exchange benchmarks, and the US Dollar International read more >>>

Source:: BusinessInsider.Com

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