Goldman Sachs fined $3 mln by FINRA over mismarking short sale orders

Goldman Sachs has been fined $3m by its self-funded regulator, the Financial Industry Regulatory Authority, over inaccurate marking of share sales, trade-reporting violations and a failure to maintain satisfactory supervisory rules. Mistakenly marked orders were caused by the omission of a single line of computer code during software upgrades, from October 2015 to April 2018, and resulted in around 60 million short sale orders, representing roughly 1% of sell principal orders during the period, being marked as “long”, with nearly 8 million executed. Over 12,000 of the executed orders violated short sale circuit breakers.