SEC, NYSE settle with Goldman Sachs
Stock regulator and major exchange fine investment bank $2 million for filing to accurately mark stock sales, allowing customers to conduct an illegal trading scheme.
NEW YORK (CNNMoney.com) -- The Securities and Exchange Commission and NYSE Regulation settled enforcement proceedings against Goldman Sachs over an illegal trading scheme, the company said Wednesday.
The SEC and NYSE will require the investment bank to pay $2 million in civil penalties and fines.
The two Goldman customers who were involved in the illegal short sales earlier paid over $1 million in disgorgement and civil penalties.
The company reported record quarterly earnings and revenue Tuesday. (Full story)