New York (HedgeCo.Net) – Goldman Sachs Group revealed in a regulatory filing on Thursday that it is being investigated over its currency trading activities. The SEC has begun a regulatory probe into the company, including one into its commodities trading, Goldman is cooperating at the time, according to sources.
“At least eight banks including Citigroup Inc. and JPMorgan Chase & Co. have said they’re being investigated by authorities examining the $5.3 trillion-a-day foreign-exchange market and are cooperating. Citigroup, JPMorgan and Barclays Plc have suspended or put on leave some of their most senior currency traders amid the inquiry. No one has been accused of wrongdoing.” Bloomberg reports.
Goldman did not disclose any details about the probe.
Investigators are looking at the firm’s “trading activities and communications in connection with the establishment of benchmark rates,” Goldman Sachs said in the filing. The company “is cooperating with all such regulatory investigations and reviews.” Bloomberg said.
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