FINRA Fines Goldman Sachs $1.8 Million For OATS Reporting Violations

Goldman Sachs has been fined $1.8 million by the Financial Industry Regulatory Authority for alleged reporting violations spanning over 8 years.

The U.S. regulator said Monday the investment bank didn’t have adequate controls in place to prevent the violations.

Goldman Sachs failed to transmit order-related events

FINRA fined Goldman Sachs Execution & Clearing, L.P. $1.8 million for systemic Order Audit Trail System (OATS) reporting violations spanning a period of over 8 years, besides a failure to accurately submit required trade reports to the appropriate FINRA Trade Reporting Facility and other related supervisory failures.

FINRA rules mandate firms...