SEC Sanctions Goldman Sachs for Failing to Provide Accurate Securities Trading Data

The Securities and Exchange Commission has issued settled charges against Goldman Sachs & Co. LLC for failing to provide complete and accurate securities trading data to the SEC, known as blue sheet data. As part of the settlement, Goldman has agreed to pay a $6 million penalty. Over a period of about 10 years, Goldman submitted more than 22,000 deficient blue sheet submissions with 43 different types of errors resulting in missing or inaccurate trade data for at least 163 million transactions. Additionally, Goldman lacked proper processes for verifying the accuracy of its electronic blue sheet data. Goldman admitted to the SEC's findings and agreed to pay the penalty. The SEC also noted that Goldman has implemented remedial efforts to improve its reporting systems and controls. Separately, FINRA also reached a settlement with Goldman regarding this matter.