Goldman Sachs fined $3M by FINRA over mismarked short sales
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.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News Brief
Citadel Securities fined $7M for mismarked short, long sales
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.
-
News BriefGoldman Sachs fined $425K by FINRA for large option reporting lapses
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.
-
News Brief
SEC charges Sabby Management over short sales
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.
More from Regulatory Enforcement
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
-
News BriefCash App parent to pay $40 million for alleged BSA/AML violations in New York
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
-
News BriefDOJ disbands crypto investigation unit, another sign of the Trump administration’s support of digital currency
The U.S. Department of Justice (DOJ) disbanded its crypto investigation unit on Monday, marking another step from President Donald Trump to support the crypto industry and lighten the regulatory burden of potential crypto crime investigations that had started under the Biden administration.