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Goldman Sachs Fined $600K In Trading Probe

Law360 (December 11, 2008, 12:00 AM EST) -- Goldman Sachs & Co.’s Equity Finance Group was hit with a $600,000 fine for allegedly engaging in and failing to supervise illegal trading strategies, The New York Stock Exchange LLC has announced.

NYSE said Wednesday that the company’s Equity Finance Group violated NYSE rules by failing to supervise its trading desk, namely during an over-the-counter stock transaction involving American depository receipts, wherein its affiliate Goldman Sachs International was the counterparty.

“[Goldman Sachs] failed to reasonably supervise or control certain business activities of its Equity Finance Group,...
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