The Goldman Sachs Group Inc. (NYSE:GS) disclosed on Thursday that it is a target in a global investigation over benchmark rate manipulation in foreign exchange markets, according to a fresh regulatory filing.
The bank’s third-quarter earnings report hints at its involvement in that probe, and it states that regulators are looking at its “currencies” and “commodities” businesses.
Goldman Sachs has not commented on its potential involvement in any investigation.
Here's the 10-Q, filed with the Securities and Exchanges Commission on Thursday, although the company reported third quarter earnings earlier this month.
The bank is "subject to a number of other investigations and reviews by...various governmental and regulatory bodies," reads the filing, including: "...The sales, trading and clearance of corporate and government securities, currencies, commodities and other financial products and related activities."
In its second quarter earnings, "currencies" and "commodities" were not included, in similar remarks on p.105.
Goldman Sachs is co-operating with all the investigations, continues the most recent document.
The global foreign exchange market is worth more than $5 trillion a day.
UK bank Barclays PLC (LON:BARC) is another target in that global probe, which involves British, Swiss, U.S. and Asian regulators, Bloomberg News reported.
Nat Rudarakanchana covers commodities and companies for the International Business Times. He is especially interested in precious metals, the food and drink industry, and...