Posted by: youngragingbull | May 31, 2013

Goldman Sachs fined $875K for CME violations

Goldman Sachs Group Inc. has been ordered to pay an $875,000 fine for failing to supervise its treasury desk in December 2008, CME Group said Friday.

Glenn Hadden, a trader on Goldman Sachs’s treasury desk at the time, has been ordered to pay an $80,000 fine for violating a rule governing the size of trading positions.

As part of the settlements, both Goldman Sachs and Hadden neither admitted or denied any rule violation.

The CME has suspended Hadden from trading for 10 days.

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