- 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.
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.
