Goldman Sachs

settled charges Monday with the Commodity Futures Trading Commission that it violated standards related to equity index swap transactions.

Goldman admitted that it failed to make necessary disclosures for “same-day” swaps to clients in 2015 and 2016, the CFTC said Monday.

“The purpose of the CFTC’s Business Conduct Standards is to promote transparency and fairness in the swaps market,” said Ian McGinley, the CFTC’s director of enforcement, in a statement.

“The CFTC is committed to ensuring that swap dealers abide by these standards, so that swap counterparties receive disclosures allowing them to assess material aspects of the swaps before entering into them,” he added.

The CFTC order found that Goldman “opportunistically solicited or agreed to enter into same-day swaps only on days and at times that were financially advantageous to Goldman and disadvantageous to its clients.”

Goldman will pay a $15 million civil monetary penalty as a result.

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