Goldman, Sachs & Co. agreed to pay a fine of US $185,000 to resolve allegations by the Financial Industry Regulatory Authority that it engaged in a pattern of late reporting of certain required securities under FINRA’s Trade Reporting and Compliance Engine (TRACE) program during various times in 2013 and 2014. Under TRACE, broker-dealers have an obligation to report transactions in certain fixed income securities within certain time frames (typically 15 minutes; click here for precise time frames). This information is then generally made available to the public. FINRA had alleged that, during three surveillance periods, it had found that between 2.8 and 3.47 percent of certain required securities were not reported by Goldman Sachs within the required time frames. As a result, FINRA also alleged that the firm failed to have an adequate supervisory system “reasonably designed” to ensure compliance with its TRACE obligations. In addition to paying a fine, Goldman Sachs agreed to make three reports to FINRA during the next year regarding the effectiveness of its relevant procedure and the steps taken by supervisory personnel to ensure the firm’s compliance with its TRACE requirements.