- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-09-22T16:01:00
Goldman Sachs & Co. was assessed a $6 million penalty by the Securities and Exchange Commission (SEC) as part of a settlement in which the financial institution admitted it submitted incomplete and inaccurate securities trading information affecting at least 163 million transactions.
The SEC said in a press release Friday it found 43 different types of errors impacting Goldman’s electronic blue sheets (EBS) reporting over a decadelong period. The agency acknowledged Goldman’s voluntary remedial efforts and self-reporting during the course of its investigation.
Goldman agreed to pay $6 million as part of a separate settlement with the Financial Industry Regulatory Authority (FINRA) for related conduct. FINRA’s order, the findings of which Goldman neither admitted nor denied, cited the firm for submitting nearly 25,000 inaccurate blue sheets and misreporting or failing to report at least 97 million transactions.
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Citigroup Global Markets was fined $250,000 by the Financial Industry Regulatory Authority regarding inaccurate trade confirmations to customers.
Goldman Sachs was fined $5.5 million by the Commodity Futures Trading Commission as part of a settlement addressing alleged audio recordkeeping violations that followed a previous consent order the bank reached with the agency.
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.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
