Goldman Sachs to Pay $110M to N.Y., Fed for FX Trades
The resolution covers trading from 2008 to 2013, several years after a far bigger wave of penalties tied to foreign-exchange trading by other global banks.
As part of its settlement with the two regulators, Goldman Sachs Bank USA, the state-chartered unit overseen by the New York agency, will provide its regulators with a plan to improve its internal controls and compliance program, the people said.
The resolution, which covers trading from 2008 to 2013, comes years after a far bigger wave of penalties tied to foreign-exchange trading by other global banks.
In a May 2015 action against six banks related to manipulation of foreign currencies, federal authorities extracted five guilty pleas and $5.8 billion in penalties.
That same year, Goldman Sachs and eight other banks agreed to pay about $2 billion among them to settle a class-action suit in New York over currency manipulation.
Eric Kollig, a spokesman for the Fed, declined to comment.