- 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.”
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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.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
