Published On: July 1, 2015

The Financial Industry Regulatory Authority (FINRA) fined Goldman Sachs $20,000 on October 22, 2013, when the firm entered into a Letter of Acceptance, Waiver and Consent (AWC). On March 15th, 2013, the firm was fined $39,000, which included a fine of $37,000 for violations of a FINRA rule. On June 10, 2011, FINRA fined Goldman Sachs $27,500 for late reporting techniques, and on March 16, 2010, they were fined $40,000 for violations of FINRA rules. Goldman Sachs did not adhere to rules with the Trade Reporting and Compliance Engine (TRACE) reporting requirements. This caused Goldman Sachs’ records to be inaccurate. Goldman Sachs failed to report to TRACE within the fifteen minute time period allotted. The firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with respect to the applicable securities laws and regulations and the rules of FINRA. Furthermore, the firm’s written supervision materials were not up to industry standards. If you would like to sue Goldman Sachs for investment losses, you may do so in the FINRA arbitration process for their failure to adhere to FINRA rules. Please call us at 312-332-4200 to speak to an attorney about your options.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltman Law Securities and Investment Fraud Attorneys