Add Goldman Sachs to the growing list of banks wrapped up in the investigation into global currency market rigging.
Goldman disclosed in a filing today that its currency and commodity trading practices are under investigation. Regulators will examine Goldman’s “trading activities and communications in connection with the establishment of benchmark rates,” Bloomberg’s Gavin Finch and
Michael J. Moore report.
Check out our explainer of how traders have been allegedly rigging the $5.3 trillion-a-day forex market.
JP Morgan, Citi, Barclays, and other banks have also been implicated in the scheme. Sources told Bloomberg that traders were colluding to manipulate rates, so keep an eye on this story.