Business

Goldman settles claims from 2007 for $1.5m

NEW YORK — Goldman Sachs has settled federal accusations that it failed to supervise a trader who fabricated ‘‘huge’’ positions at the bank, striking a deal that included $1.5 million in fines and broader regulatory sanctions.

The Commodity Futures Trading Commission’s case against Goldman stems from late 2007, when Matthew Marshall Taylor, then a trader at the Wall Street firm, was accused of entering fabricated trades that concealed a $8.3 billion trading position. The position resulted in nearly $119 million of losses for Goldman.

The Wall Street firm, the commission said Friday, ‘‘failed to have policies or procedures reasonably designed to detect and prevent’’ improper trades. The agency further claimed that the bank ‘‘failed to supervise diligently’’ Taylor.

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In a statement, Goldman noted that the trades had no impact on customer money. The bank also agreed to improve its compliance systems.