The UK’s Financial Conduct Authority (FCA) has fined Goldman Sachs £34,344,700 for transaction reporting failures under MiFID I between 5 November 2007 and 31 March 2015. The issues cover 229.2 million transactions divided into:
- Missing reports
- Incorrect reports
- Reports that were out of scope (which is prohibited under MiFID)
In this case, 212.7 misreports arose from 11 errors, with the remainder arising from miscellaneous other issues. They are all detailed in Appendix II of the report.