- 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.
A cannabis company agreed to pay $225,000 to settle allegations that funds were temporarily deposited into its year-end accounts for the sole purpose of inflating year-end cash, the Securities and Exchange Commission said.
Vince McMahon, the founder and former CEO of WWE, was fined $400,000 and ordered to reimburse the wrestling giant more than $1.3 million to settle charges brought by the Securities and Exchange Commission that he failed to disclose hush money payments he made on behalf of himself and the company.
Experian, the credit reporting giant, let compliance slide when it came to addressing consumer complaints about incorrect data, the Consumer Financial Protection Bureau said in a lawsuit against the credit agency.
