Goldman Sachs fined 120 million dollars for rate manipulation

Washington, Rabi’I 23, 1438, December 22, 2016, SPA — The US investment bank Goldman Sachs has been
fined 120 million dollars for manipulating information that affected
interest rate products globally, US regulators said Wednesday, according to dpa.
According to the US Commodity Futures Trading Commission (CFTC), between 2007 and 2012, Goldman Sachs traders attempted “on many occasions to manipulate and made false reports concerning the US Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX), a global benchmark for interest rate products.” Goldman Sachs did this “in a manner deliberately designed … to benefit the bank ….,” the statement read. In May, Deutsche Bank paid a penalty of 50 million dollars for ISDAFIX manipulation.
03:06 LOCAL TIME 00:06 GMT