- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-10-12T14:00:00
A commissioner at the Commodity Futures Trading Commission (CFTC) accused Goldman Sachs of perpetuating a corporate culture that tolerates repeated violations of the agency’s rules.
Christy Goldsmith Romero issued a concurring statement in response to the agency’s $30 million fine levied against Goldman Sachs on Sept. 29 for swaps reporting violations. She noted the firm has allegedly violated CFTC rules four times in the past 18 months, with each case resulting in financial penalties.
“As a longstanding federal enforcement official, I am significantly concerned that Goldman is a repeat defendant in federal enforcement cases,” Goldsmith Romero said. “Goldman has a long history of violating federal laws, getting caught, and then settling with federal agencies.”
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
The Commodity Futures Trading Commission solidified its view that it should be a primary regulator of cryptocurrencies with a record amount of cases regarding the digital asset space in fiscal year 2023.
The Commodity Futures Trading Commission will consider increasing its enforcement penalties in certain cases to deter future violations of commodities law and punish repeat offenders.
Goldman Sachs, JPMorgan Chase, and Bank of America agreed to pay penalties totaling $53 million across settlements with the Commodity Futures Trading Commission addressing alleged swap reporting failures among their respective affiliates.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
