Goldman Sachs Group Inc.

New York, NY: (Mar-15-07) A lawsuit filed by the Securities and Exchange Commission and NYSE Regulation against the Goldman Sachs Group Inc. accused it of failing to detect customers' illegal short sales of stock in companies just before those companies completed public offerings. The SEC and NYSE both settled enforcement actions against the company's Goldman Sachs Execution and Clearing LP claiming that the unit violated regulations that require brokers to accurately mark sales, either long or short, and to restrict stock loans on long sales. Goldman Sachs Group agreed to pay a $2 million settlement. [REUTERS: SHORT TRADING]

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Published on Mar-16-07