NEW YORK, May 14 (Reuters) - Goldman Sachs ( GS ) will
pay a $1.45 million civil fine to settle a U.S. regulator's
claims that the Wall Street bank failed to accurately report
data for billions of stock market trades.
The Financial Industry Regulatory Authority said in a
consent order on Tuesday that coding errors at Goldman led to
inaccurate reporting of 36.6 billion trades to the CAT Central
Repository, which helps the regulator monitor markets.
CAT is an acronym for consolidated audit trail.
FINRA also said a technology failure caused Goldman in
October and November 2021 to inaccurately prepare 90.8 million
order memoranda, report 6.9 million trades and issue more than
372,000 trade confirmations. It said the failure also led
Goldman to report 98,322 trades it should not have reported.
The settlement also addresses alleged supervisory failures.
Goldman did not admit or deny wrongdoing in agreeing to
settle. It had no immediate comment on Wednesday.