Goldman Sachs Fined $6 Million by SEC for Inaccurate Trading Data

Goldman Sachs has agreed to pay a $6 million penalty to settle charges brought by the Securities and Exchange Commission (SEC) for failing to provide complete and accurate blue sheet data, which is essential for the SEC's enforcement and regulatory functions. Over a ten-year period, Goldman made over 22,000 deficient blue sheet submissions containing missing or inaccurate trade data for at least 163 million transactions. The SEC found that Goldman lacked adequate processes to verify the accuracy of its submissions. Goldman admitted the findings, agreed to be censured, and has taken remedial actions to improve its reporting systems and controls. Additionally, the Financial Industry Regulatory Authority (FINRA) reached a settlement with Goldman for related conduct.