REUTERS - Goldman Sachs Group Inc is in settlement talks with the U.S. government over an $8.3 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 U.S. Commodity Futures Trading Commission, which regulates U.S. 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. Taylor has denied the accusations, his lawyer said on Thursday.
(Reporting by Debra Sherman; Editing by Jackie Frank)
Trending On Reuters
Two express trains derailed into a river in Madhya Pradesh overnight after flood water weakened the tracks, killing 21 people, state officials said on Wednesday, reigniting criticism about lack of safety on the world's fourth-largest rail network. Full Article | Video