WASHINGTON — The U.S. Securities and Exchange Commission on Friday announced a $6 million penalty against Goldman Sachs for providing incomplete and inaccurate trading information to the regulator.
The banking giant made more than 22,000 deficient "blue sheet" submissions over a roughly 10-year period, affecting at least 163 million transactions, according to an SEC order.
The SEC routinely sends these electronic requests to brokers for securities trading information to identify buyers and sellers.
The firm is "pleased to have resolved this matter," Abbey Collins, a spokesperson for Goldman Sachs, told CNBC.
But the SEC also found that Goldman had insufficient internal processes to verify the accuracy of its blue sheet submissions.
Persons:
WASHINGTON, Goldman Sachs, Thomas P, Smith Jr, Goldman, Abbey Collins, Collins
Organizations:
The U.S . Securities, Exchange Commission, SEC, New York Regional Office, CNBC
Locations:
The