Goldman to pay $6 million penalty to SEC over recordkeeping violations

Goldman Sachs GS, +0.03% will pay the Securities and Exchange Commission $6 million to resolve charges that the investment bank provided incomplete information on securities trades, known as blue-sheet data, the agency announced Friday.

The SEC said that over a roughly 10-year period, Goldman made more than 22,000 deficient blue-sheet submissions to the SEC that implicated at least 163 million securities transactions. “Firms must provide complete and accurate blue sheet data in response to our requests,” said Thomas P. Smith Jr. of the SEC’s New York Regional Office, in a statement. “Blue sheet data is vital to the Commission’s ability to carry out its enforcement and regulatory functions and to protect investors and maintain market integrity.”

Goldman admitted the findings, agreeing the pay the penalty and engage in remedial efforts to improve its blue-sheet reporting systems.

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