The Financial Industry Regulatory Authority has hit the execution and clearing unit of Goldman Sachs Group Inc. with an $800,000 fine related to pricing errors in the dark pool trading unit over an eight-day period in 2011, The Wall Street Journal reports.
According to FINRA, Goldman Sachs’s dark pool SIGMA-X—a private trading venue—carried out almost 400,000 trades between July 29, 2011 and August 9, 2011 that were at inferior prices, violating investor protection rules aimed at ensuring that customers are getting the best deal, Reuters reports. The regulator also found that between November 2008 and August 2011, Goldman Sachs did not have adequate policies in place to protect stock quotes.
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