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
The Reserve Bank of India (RBI) kept its key repo lending rate unchanged at 6.75 percent on Tuesday, as widely expected, after consumer inflation picked up to a four-month high and as emerging markets brace for a U.S. rate hike. Full Article