UK fines Goldman Sachs $45 million over transaction reporting failure

Goldman Sachs Group Inc.’s U.K. unit must pay a record MiFID fine of 34 million pounds ($45 million) for failing to provide accurate and timely reporting relating to 220 million transaction reports between 2007 and 2017.

The failures, including 9.5 million transactions that weren’t reported at all, were violations of the Markets in Financial Instruments Directives, or MiFID, regulation designed to ensure markets are safer and more transparent, the U.K.’s Financial Conduct Authority said Thursday in a statement. Goldman Sachs got a 30 percent reduction by cooperating with the FCA and agreeing to settle.

"The failings in this case demonstrate a failure