CFTC fines Goldman for swap rates misconduct across trading desks and product lines

The US Commodity Futures Trading Commission (CFTC) has ordered Goldman Sachs to pay a US$120 million civil monetary penalty, cease and desist from further violations as charged, and take specified remedial steps, including measures to detect and deter trading intended to manipulate swap rates such as the US Dollar International Swaps and Derivatives Association Fix (USD Isdafix), to ensure the integrity and reliability of the bank's benchmark submissions, and to improve related internal controls