Goldman Sachs fined for failing to properly report billions of trades

Goldman Sachs fined $1.45 million for trade reporting failures

17 May 2025, 10:53 GMT+10

Goldman Sachs fined for failing to properly report billions of trades

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

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.