CFTC Orders Goldman Sachs to Pay $15,000,000 for Violations of Swap Business Conduct Standards

CFTC

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Goldman Sachs & Co. LLC (Goldman) for violations of the CFTC’s Business Conduct Standards applicable to swap dealers. Specifically, the CFTC found that Goldman failed to disclose dozens of pre-trade-mid-market marks (PTMMM), in violation of Regulation 23.431, and failed to communicate to clients in a fair and balanced manner based on principles of fair dealing and good faith, in violation of Regulation 23.433. read more »

Larsen & Toubro Technology Services Pays $9,928,000 To Resolve False Claims Act Allegations

DOJ

L&T Technology Services, LTD (“LTTS”), a company based in India, with U.S. offices in Edison New Jersey, has agreed to pay $9,928,000 to resolve allegations that between 2014 and 2019, LTTS underpaid visa fees owed to the United States by acquiring inexpensive B-1 visas, rather than more expensive H-1B visas, in alleged violation of the False Claims Act. read more »