Goldman, Citadel Securities Pay SEC Millions Over Trade Labeling
- Wall Street giants each reached settlements with SEC on Friday
- Goldman fined $6 million; Citadel Securities pays $7 million
The Securities and Exchange Commission headquarters in Washington, DC.
Photographer: Graeme Sloan/BloombergThis article is for subscribers only.
Goldman Sachs Group Inc. and Citadel Securities each reached multimillion-dollar settlements with the Securities and Exchange Commission on Friday over how they labeled millions of trades.
Goldman agreed to pay a $6 million fine for sending inaccurate or incomplete trading data to the SEC on at least 163 million transactions over the course of a decade. Meanwhile, the SEC said that a coding error at Citadel Securities led to short sales being labeled as longs, and vice versa, and that Ken Griffin’s market-making firm would pay $7 million.