(aiCIO) The UK’s Financial Conduct Authority (FCA) has fined Goldman Sachs International ($44.7 billion) for failing to provide accurate and timely reporting relating to hundreds of millions of transaction reports over the course of nearly a decade.
The FCA said Goldman Sachs International failed to ensure it provided complete, accurate, and timely information for approximately 213.6 million reportable transactions, while also erroneously reporting 6.6 million transactions to the FCA, which were not reportable. The regulator said that over a period of nine and a half years, Goldman Sachs International made a total of 220.2 million errors in its transaction reporting, breaching FCA rules.
