Violation Tracker Individual Record

Company: 
Goldman, Sachs & Co.
Current Parent Company: 
Goldman Sachs
Penalty: 
$11,000,000
Year: 
2012
Date: 
April 12, 2012
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

The Financial Industry Regulatory Authority fined Goldman, Sachs & Co. $22 million for failing to supervise equity research analyst communications with traders and clients and for failing to adequately monitor trading in advance of published research changes to detect and prevent possible information breaches by its research analysts. At the same time, the Securities and Exchange Commission announced a related settlement with Goldman. Pursuant to the settlements, Goldman agreed to pay $11 million each to FINRA and the SEC.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.