Goldman Sachs ordered to pay $120 million penalty for rate manipulation - CFTC | Reuters

 Goldman Sachs ordered to pay 0 million penalty for rate manipulation - CFTC
| Reuters

WASHINGTON Goldman Sachs has been ordered to pay a $120 million civil penalty to settle charges that it often tried to manipulate a global dollar benchmark for interest rate products over a five-year period, the Commodity Futures Trading Commission said on Wednesday.The CFTC said in a statement that Goldman Sachs Group Inc attempted on "many occasions" from January 2007 to March 2012 to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix benchmark.The firm also was ordered to take steps to prevent similar future misconduct, which involved multiple trading desks and product lines, the CFTC said.

(Reporting by David Alexander; Editing by Eric Walsh)

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Updated Date: Dec 21, 2016 22:15:07 IST