Who is at fault for Goldman Sachs’s $5.5 million fine?

While the CFTC says the bank is to blame for record-keeping failures that transpired at the start of the pandemic, others say it was two vendors who let the bank down.

This past August, Goldman Sachs found itself in the crosshairs of the Commodity Futures Trading Commission. The regulator charged that the bank had both violated a cease-and-desist provision of a prior order and committed record-keeping violations where the firm did not properly record and retain specific audio files. The CFTC ordered Goldman to pay $5.5 million as a penalty.

That order did not specifically name the vendors whose technology was at the center of the case, but one of the agency’s

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