Page 20 - 期货和衍生品行业监管动态（2023年9月刊）

期货和衍生品行业监管动态

finds Goldman violated the cease-and-desist provision of a prior order and committed

recordkeeping violations in connection with its failure to properly record and retain

certain audio files. [See CFTC Press Release No. 8086-19]

The order requires Goldman to pay a $5.5 million civil monetary penalty and to

cease and desist from further violations of the recordkeeping provisions of the

Commodity Exchange Act and CFTC regulations, as charged.

“As this case demonstrates, the CFTC will continuously pursue swap dealers that

fail to meet their recording obligations and there will be consequences for violating

CFTC orders, including increased penalties,” said Director of Enforcement Ian

McGinley. “We are committed to holding swap dealers accountable when they fail to

comply with their regulatory obligations and fail to abide by obligations imposed by

prior CFTC orders.”

Case Background

In November 2019, the CFTC entered an order that found Goldman failed to

record the phone lines of a trading and sales desk for 20 calendar days in January and

February 2014, after its recording hardware malfunctioned following a software patch.

The CFTC ordered Goldman to pay a $1 million civil monetary penalty and to cease

and desist from further violations of CFTC recordkeeping provisions.

The order entered today finds that, following the issuance of the November 2019

order, Goldman had additional recordkeeping failures, in violation of the cease-and-

desist provision of the earlier order. Specifically, Goldman used a vendor service to

record calls made on mobile devices. Beginning in March 2020, increased use of the

vendor’s recording service during the pandemic led to increased failures in the vendor’s

hardware. As a result, Goldman failed to fully record and retain thousands of mobile

device calls. Goldman discovered the issue when investigating reports of poor call

quality from employees using the recording service. An interim fix was implemented

7