Article: Goldman Snared In Naked Shorting Probe

Article - Media

Goldman Snared In Naked Shorting Probe

Liz Moyer

Forbes, 14 March 2007

One of Wall Street’s biggest prime brokers has been taken to task by the Securities and Exchange Commission and the Big Board for not catching on to its customers’ illegal trading activities.

Goldman Sach’s clearing and execution division is paying $2 million to settle accusations it relied too heavily on what its customers told it without investigating trading activity that showed signs of something being amiss.

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