Goldman Sachs among banks probed for ‘Treasury rigging’

By Kevin Dugan - November 3, 2015 | 11:00pm

Goldman Sachs is having a rough week on the government-relations front.

The Wall Street powerhouse acknowledged Tuesday it is under investigation for possible manipulation of the $13 trillion US Treasurys market, adding to a laundry list of federal and state probes

The disclosure, made in a regulatory filing, marks the first time that any one of the 22 primary dealer banks has confirmed the Treasury probe, first reported by The Post.

While the filing doesn’t specify which government agencies are investigating the bank, Goldman revealed that “when-issued” trading of securities — promising to sell securities once they’re available — is also being looked at by regulators...

Full article:
http://nypost.com/2015/11/03/goldman-sachs-among-banks-probed-for-treasury-rigging/

Goldman Sachs Faces Investigation Over Auction of Securities

By Michael J. Moore - November 3, 2015 — 10:03 AM EST

Goldman Sachs Group Inc. added the offering and auction of securities, as well as “when-issued trading,” to a list of activities that regulators and other government bodies are investigating.

The bank made the disclosure Tuesday in a quarterly regulatory filing, without specifying which agencies or regulators are probing the items on the list. The U.S. Justice Department has begun looking at possible collusion in the $12.7 trillion U.S. Treasury market after securing guilty pleas and more than $5 billion in fines from global banks in a similar investigation of currency rigging, Bloomberg reported earlier this year.

Goldman Sachs is one of 22 financial firms accused in a July investor lawsuit of colluding to manipulate auctions of U.S. Treasuries. A pension fund for Boston public employees alleged that the so-called primary dealers used electronic chat rooms and instant messages to inflate the prices of Treasuries they sold to investors and to deflate the prices they paid for those Treasuries at auction.

Michael DuVally, a Goldman Sachs spokesman, declined to comment beyond the filing....

Full article:
http://www.bloomberg.com/news/articles/2015-11-03/goldman-sachs-faces-investigation-over-auction-of-securities-igjjxfj7