Goldman in settlement talks with US over trading loss
Published on Nov 10, 2012 11:13 PM
NEW YORK (REUTERS) - Goldman Sachs is in settlement talks with the US government over an US$8.3 billion (S$10.23 billion) position that one of the investment bank's traders had concealed five years ago, according to a published report.
The Financial Times said a settlement with the US Commodity Futures Trading Commission (CFTC), which regulates US futures and options markets, is expected in the coming weeks, citing two sources familiar with the plans.
Goldman declined to comment and the CFTC could not be reached for comment.
The planned settlement follows Thursday's announcement from the regulator that accused ex-Goldman trader Matthew Marshall Taylor of hiding a large position in S&P 500 e-mini futures contracts.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!