Archive · 19 May 2025
Goldman Sachs Fined for Inaccurate Trade Reporting
Goldman Sachs, a big bank, made some mistakes when reporting its stock trades.
Because of these errors, the company was fined $1.45 million by a regulatory group called FINRA.
Mistakes were made because of computer coding issues and technology failures.
This meant the firm did not report trades correctly, leading to incorrect data being sent to the authorities.
Goldman Sachs agreed to pay the fine, but did not admit to doing anything wrong.
Goldman Sachs was fined $1.45 million by FINRA for inaccurate trade reporting.
The inaccurate reporting involved 36.6 billion stock market trades.
Coding errors led to the incorrect reporting of trades.
Technology failures caused inaccurate order memorandums and trade confirmations.
Goldman Sachs did not admit to any wrongdoing.
- Who
- Goldman Sachs and FINRA.
- What
- Goldman Sachs was fined for failing to accurately report trade data.
- When
- October and November 2021 were affected by technology failures. The settlement was announced on Tuesday.
- Where
- Wall Street.
- Why
- Coding errors and technology failures resulted in inaccurate reporting.
- Fine Amount
- $1.45 million
- Authority
- FINRA
- Trades Affected
- 36.6 billion
- Issue
- Inaccurate Trade Reporting
- Cause
- Coding and technology failures