NYSE Fines Goldman And UBS (GS, UBS)

The New York Stock Exchange has imposed fines on three firms. These firms are Goldman Sachs GS, UBS UBS and Cantor Fitzgerald. The Exchange has also disciplined two individuals on various counts. In its monthly regulatory report, NYSE has disclosed that it imposed a $450,000 fine on Goldman Sachs GS for various violations including failure to close out fail-to-deliver positions in a prompt manner and for irregular short-selling. Goldman said that the violations were due to a change in applicable rules and that the process has been improved and automated to avoid future errors. UBS AG (UBS) has been slapped with a $350,000 fine for 21 repetitions of a rule violation. UBS declined to comment. According to The Wall Street Journal, another firm Cantor Fitzgerald & Co. has been fined $250,000 for failing to supervise the personal and proprietary equities-trading account of the then-CEO of one of its business units.