Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056733
Chunk: 285

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 285
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) to improve related internal controls. The Order also requires the current supervisor responsible for oversight of

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various United States interest-rate trading desks at Goldman to provide a certification as to, among other things, the effectiveness of the internal controls and procedures undertaken and implemented by Goldman as a result of this settlement. “This matter, the third enforcement action relating to the ISDAFIX benchmark, demonstrates the breadth of this kind of misconduct across the industry, and within Goldman, the extent of the misconduct across trading desks and product lines,” commented Aitan Goelman, the CFTC’s Director of Enforcement. Mr. Goelman further commented that “the Division will continue to be vigilant and aggressive in protecting the integrity of the ISDAFIX and other important benchmarks relied upon by the markets.” Goldman, through its traders, bid, offered, and executed transactions in interest rate swap spreads, U.S. Treasuries, and Eurodollar futures contracts in a manner deliberately designed—in timing, price, and other respects—to influence the published USD ISDAFIX in order to benefit the Bank in its derivatives positions, according to the Order. In addition, Goldman, through its employees making the Bank’s USD ISDAFIX submissions, also attempted to manipulate and made false reports concerning USD ISDAFIX by skewing the Bank’s submissions in order to benefit the Bank at the expense of its derivatives counterparties and clients. The Compliance Staff of ICE found that GSC violated Exchange Rule 6.10 by failing to ensure that the proper CTI codes were affixed to orders. GSC was fined $2000, effective April 4, 2016. Included by the Sponsor from the NFA Website and not provided by GS CBOT Case #: 23-CH-2312. Pursuant to an offer of settlement in which Goldman Sachs & Co. LLC neither admitted nor denied the rule violation upon which the penalty is based, on October 12, 2023, the Clearing House Risk Committee found that Goldman Sachs & Co. LLC violated CBOT Rule 930.E.3. In accordance with the settlement offer, the Committee imposed a $150,000 fine. In accepting this settlement offer, the Committee agreed to waive the fine if no similar violation is found during the next risk based examination. Effective Date: October 13, 2023. CFTC Case #: 23-59. The Commodity Futures Trading Commission today issued orders simultaneously filing and settling charges with affiliates of three financial institutions for a variety of swap dealer activities including failures