- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-04-05T17:36:00
Goldman Sachs was fined $3 million by the Financial Industry Regulatory Authority (FINRA) for mismarking nearly 60 million short sell orders as long and related supervision failures.
The firm further agreed to be censured as part of FINRA’s disciplinary action published Tuesday. Goldman Sachs neither admitted nor denied the self-regulatory organization’s findings.
From 2015-18, Goldman Sachs’s automated trading software mismarked sell orders following a system upgrade intended to simplify order flow, according to FINRA.
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Miami-based broker-dealer Citadel Securities was fined $7 million as part of a settlement with the Securities and Exchange Commission addressing mismarked short and long sales caused by a coding error in the firm’s automated trading system.
Goldman Sachs agreed to pay $425,000 as part of a settlement with the Financial Industry Regulatory Authority addressing allegations of reporting and supervision violations regarding more than 1 million over-the-counter options positions.
New Jersey-based investment adviser Sabby Management and its managing partner were charged by the Securities and Exchange Commission with engaging in a fraudulent short selling scheme involving the stocks of nearly a dozen public companies.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
