The SEC Now Fines Goldman For Inaccurate Blue Sheet Data
The SEC has now fined Goldman Sachs for inaccurate blue sheet data according to the latest SEC press release.
Goldman Sachs (NYSE:GS) was charged $6 million in penalties for failing to provide complete and accurate securities trading information, known as blue sheet data, to the SEC.
According to the SEC’s order, over a period of approximately ten years, Goldman made more than 22,000 deficient blue sheet submissions to the SEC.
The order finds that, as a result of 43 different types of errors, these submissions contained missing or inaccurate trade data for at least 163 million transactions.
The order further finds that Goldman lacked adequate processes to verify the accuracy of its electronic blue sheet submissions, the report states.
“Firms must provide complete and accurate blue sheet data in response to our requests,” said Thomas P. Smith Jr., Associate Regional Director in the New York Regional Office.
“Blue sheet data is vital to the Commission’s ability to carry out its enforcement and regulatory functions and to protect investors and maintain market integrity.”
Separately, the Financial Industry Regulatory Authority (FINRA) reached a settlement with Goldman for related conduct.
Investors in the MMTLP community are wondering when the next deep investigation by the SEC and FINRA will occur.
Blue sheets were denied to retail investors in June, but it only resulted in bigger outreach to Congress and other who could raise awareness.
Now Congress has has ordered an MMTLP share count in a new letter to SEC Chairman Gary Gensler and FINRA CEO Robert Cook.
What is keeping regulators from fully dialing into the MMTLP fraud case? Only time will tell.
The MMTLP case is a developing story — share this article to raise awareness.
Also read: 15 Congress Members Have Now Requested MMTLP Update from SEC
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