Goldman Sachs Pays Another (Minor) Fine

The latest fine that Goldman Sachs is being asked to pay is for failing to supervise Glenn Hadden for one of his futures trades in 2008.  Sanctions were also levied but we know that low fines "sanction" fraudulent activity rather than curtail it.

CME Group Fines Goldman Sachs and Former partner
By Susanne Craig - DealBook

Goldman Sachs and Glenn Hadden, one of Wall Street’s top traders, have been fined by the CME Group over a Treasury futures trade in 2008.

The CME Group, which runs commodity and futures exchanges, has notified both Goldman and Mr. Hadden, once a trader and partner at Goldman Sachs who now runs the global interest rates desk at Morgan Stanley, that both face fines and other sanctions in connection with the trade, according to a disciplinary action reviewed by The New York Times.

Goldman has been ordered to pay $875,000 and was cited for failure to supervise Mr. Hadden. Mr. Hadden has been ordered to pay $80,000.

Read the entire article here