Goldman Fined By NYSE, SEC Over Short Sales

Law360, New York (May 4, 2010, 3:10 PM EDT) -- A Goldman Sachs Group Inc. subsidiary has agreed to pay the U.S. Securities and Exchange Commission and NYSE Regulation a total of $450,000 for allegedly violating rules related to short-selling.

Goldman Sachs Execution & Clearing LP agreed to pay NYSE Regulation $225,000 and the federal government another $225,000, according to an SEC order dated Tuesday. GSEC was also censured.

GSEC violated Rule 204T of Regulation SHO by failing to timely close out fail-to-deliver positions on certain occasions between December 2008 and January 2009, the SEC said....
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