Goldman Sachs to Pay $110 Million to Resolve Forex Probes
- Settlements with Fed, New York state cover 2008-13 conduct
- Trader shared tips about order coming from ‘Satan,’ DFS says
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Goldman Sachs Group Inc. has agreed to pay about $110 million to resolve allegations that its foreign exchange traders improperly shared information about client orders on an electronic chat room, putting clients at a disadvantage.
The firm will pay roughly $55 million each to New York’s Department of Financial Services and the Federal Reserve Board. As part of its settlement, Goldman Sachs Bank USA, the state-chartered unit overseen by the New York agency, will provide its regulators with a plan to improve its internal controls and compliance program.