Goldman Fined $15M Over Short Selling Procedures
By Carmen Germaine
Law360, New York (January 14, 2016, 4:49 PM ET) -- Goldman Sachs & Co. has agreed to pay a $15 million penalty to settle U.S. Securities and Exchange Commission allegations that it filled customers’ short selling orders without ensuring it could borrow enough stock to cover the order, the agency announced Thursday.
Goldman Sachs agreed to pay the fine without admitting or denying that it violated SEC regulations on short sales. The SEC said Goldman Sachs improperly accepted and filled short sale orders without ensuring that it could find and borrow enough stock to deliver on