Goldman Sachs Group Inc agreed on Tuesday to pay $110 million to resolve allegations by two US regulators that its foreign exchange traders shared information about investment positions. Half the $110 million fine will be paid to the Federal Reserve and the rest will go to the New York Department of Financial Services (NYDFS).
"The firm failed to detect and address its traders' use of electronic chatrooms to communicate with competitors about trading positions," the Fed said in a statement. Goldman Sachs said it was pleased it had resolved the Fed's and the NYDFS' "respective reviews and appreciate their recognition that we have already taken significant steps to enhance our policies and procedures."
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