17 May 2025, 10:53 GMT+10
NEW YORK CITY, New York: Goldman Sachs has agreed to pay a US$1.45 million civil penalty to resolve allegations from the Financial Industry Regulatory Authority (FINRA) that it failed to accurately report data for billions of stock market trades.
The settlement announced this week addresses claims that coding errors at the Wall Street bank led to the incorrect reporting of 36.6 billion trades to the CAT Central Repository, a consolidated audit trail used by regulators to monitor trading activity.
FINRA also cited a technology malfunction in October and November 2021 that resulted in Goldman inaccurately preparing 90.8 million order memoranda, reporting 6.9 million trades, and issuing over 372,000 trade confirmations. Additionally, the error caused the bank to report 98,322 trades that it should not have reported.
The regulator stated that the settlement also addresses alleged supervisory lapses related to these reporting failures.
Goldman Sachs neither admitted nor denied the allegations in agreeing to the settlement and has not commented on the matter.
Get a daily dose of Wisconsin Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Wisconsin Star.
More InformationNEW YORK CITY, New York: Goldman Sachs has agreed to pay a US$1.45 million civil penalty to resolve allegations from the Financial...
WASHINGTON, D.C.: The largest firefighters' union in the United States is calling for federal antitrust authorities to investigate...
LOS ANGELES, California: One person died and 32 others were hurt when a tour bus and an SUV crashed on a freeway near Los Angeles over...
COLOMBO, Sri Lanka: A passenger bus carrying nearly 50 people skidded off a cliff in Sri Lanka's central highlands, killing 21 and...
WASHINGTON, D.C.: U.S. President Donald Trump signed an executive order this week to lower the cost of prescription drugs in the United...
PASADENA, California: A U.S. appeals court late last week upheld a federal law that stops felons from owning guns. The court rejected...
Washington DC [US], May 16 (ANI): The second season of 'America's Sweethearts: Dallas Cowboys Cheerleaders' has finally got a release...
(Photo credit: Joe Nicholson-Imagn Images) Seven-time Super Bowl champion quarterback Tom Brady will get a feel for IndyCar's speed...
The US presidents love for the Big Mac has long been documented Saudi Arabia has rolled out a mobile McDonald's truck outside the...
Russia, on the contrary, experiences no shortage of army volunteers, the president has said Ukrainian recruitment officials have...
Seven-time NBA all-star Damian Lillard, 34, recently joined a growing list of NBA athletes to be sidelined by a diagnosis of deep-vein...
(250511) -- SAN FRANCISCO, May 11, 2025 (Xinhua) -- Anthony Edwards (top R) of Minnesota Timberwolves shoots during the game 3 of the...