Company: EUO
Filing Date: 2025-03-18
Form Type: S-1/A
Source: 0001193125-25-056734
Chunk: 420

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-1/A
Chunk 420
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 relating to business communications sent over electronic messaging channels that have not been approved by GS&Co. Under the terms of the settlements, GS&Co. paid $125 million to the SEC and $75 million to the CFTC and has agreed to cease and desist from further violations of certain records preservation requirements, to retain a compliance consultant and to implement improvements to its related compliance policies and procedures. Trading Matters. On November 18, 2020, Group Inc. received a notice of enforcement from the CME Group Inc. (CME) relating to alleged violations, through multiple subsidiaries, including GS&Co. and J. Aron & Company, of the CME’s block-trade and pre-hedging rule and alleged failures to supervise related to 21 instances of alleged improper pre-hedging between January 2019 and September 2021. On May 19, 2022, J. Aron & Company entered into a settlement with the CME to settle all of the charges against Group Inc. and its subsidiaries, including GS&Co. Under this settlement, J. Aron & Company paid a $125,000 fine and disgorged profits in the amount of $10,825. Separately, in February 2021, the CFTC notified Goldman Sachs that it would send an information request concerning the same general subject matter as the CME’s notice, and made that request in November 2021. Goldman Sachs is cooperating with the matter. On March 31, 2022, GS&Co. entered into a settlement with the National Futures Association’s (NFA) Business Conduct Committee to settle charges that, among other things, GS&Co. did not collect or post variation margin on uncleared swaps with certain counterparties that were covered by the CFTC’s variation margin regulations; did not provide pre-trade mid-market marks to certain uncleared swaps counterparties when required; failed to promptly submit accurate and complete reports, documents and supplemental information to the NFA; did not diligently supervise all activities relating to its business; and did not monitor the firm’s compliance with certain external business conduct standards policies and procedures. Under this settlement, GS&Co. paid $2.5 million to the NFA.

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1MDB-Related Matters: Between 2012 and 2013, subsidiaries of Group Inc., including the company, acted as arrangers or purchasers of approximately $6.5 billion of debt securities of 1MDB. On November 1, 2018