Goldman Sachs (NYSE:GS) was fined $120mln by US markets regulators on Wednesday for attempted manipulation of Isdafix, a key interest rate swaps benchmark, over a five year period.
It is the first fine Goldman has received for attempted manipulation of a benchmark. In the wake of the Libor rates rigging scandal, global regulators, led by the Commodity Futures Trading Commission, have been investigating a variety of benchmarks, including Isdafix and foreign exchange benchmarks.
Goldman shares closed down 0.7% at $241.44 on Wednesday.