CFTC orders three major US banks to pay over $50 million for swap-reporting failures
The order announced Friday also includes Goldman Sachs taking steps to develop a written remediation plan and retain a consultant to advise on and assess its remediation plan.
![CFTC orders three major US banks to pay over $50 million for swap-reporting failures](https://cdn.zeebiz.com/sites/default/files/2023/10/01/263010-screenshot-2023-10-01-085300.png?im=FitAndFill=(1200,900))
The commission said its order recognized "substantial cooperation" from each of the three banks with regulators and added that the cooperation resulted in reduced civil monetary penalties. (Image credit: Reuters)