Goldman Sachs will have to pay $1.8 million in fines to FINRA over various
reporting failures and violations. According to FINRA, Goldman Sachs committed
various supervisory failures over the course of eight years, including
violations relating to its Order Audit Trail System and failure to submit
reports to Trade Reporting Facilities. Having accurate OATS data is critical
to detecting and preventing fraud and misconduct. Goldman Sachs consented
to, without admitting or denying, FINRA’s findings.
Supervisory failures could be cause for potential investor claims. Registered
brokerage firms are responsible for supervising their employees. If you
trusted your broker with your investments and you lost a substantial amount
of money, we invite you to contact Meyer Wilson to tell us what happened
to you in a free consultation.
Before you invest, we encourage you to check into the disciplinary history
of your financial advisor, broker, or brokerage firm. You can do this
FINRA’s BrokerCheck tool. You can also get more information about supervisory failures on our website:
To get in touch with an investment fraud lawyer at Meyer Wilson, call us
today at (888) 390-6491 or fill out a
free case review form.