GOLDMAN SACHS TO PAY $109.5M FOR TRADE ABUSES

Goldman Sachs agreed Tuesday to pay a combined $109.5 million in fines to federal and New York state authorities to settle charges that the investment bank’s currency traders unlawfully shared customers’ order information with other banks in order to take advantage of the market. By sharing customer order information, traders were able to distort the $5.3 trillion foreign exchange market to their benefit. Goldman also will have to put in place additional compliance and oversight controls on its operations.