Goldman Sachs Group Inc. agreed to pay a $6 million positive on Friday for sending inaccurate or incomplete buying and selling information to the Securities and Trade Fee protecting at the least 163 million transactions over a decade.
The issues have been present in 22,000 information recordsdata referred to as blue sheets, which corporations routinely ship to regulators, in line with the SEC. The regulator stated that Goldman’s submissions had 43 various kinds of errors, together with misreporting trades in US Central Time, as a substitute of the required Jap Time. Regulators ask for blue sheets from brokers to probe suspect buying and selling.
Goldman admitted to the findings within the regulator’s settlement order. The Wall Road financial institution additionally reached a associated settlement with the Monetary Business Regulatory Authority, the SEC stated.
“We’re happy to have resolved this matter,” Goldman stated in an announcement. The financial institution, which self-reported most of the errors, is within the means of submitting corrected blue sheets to the SEC.