top of page

Regulation-related inquiries are disclosed by Goldman Sachs, Citi, and Robinhood.

This week, the quarterly filings of Goldman Sachs Group, Citigroup, and Robinhood Markets each revealed the regulatory inquiries into various business practices that each company is currently subject to.

The Consumer Financial Protection Bureau (CFPB) is looking into Goldman Sachs' "credit card account management practices, including with respect to the application of refunds, crediting of nonconforming payments, billing error resolution, advertisements, and reporting to credit bureaus," the bank said in a securities filing on Thursday.

The bank made no additional disclosures regarding the investigation.

On Thursday, Citigroup announced that unnamed agencies are looking into its trading in government securities.

"Government and regulatory agencies are conducting investigations or making inquiries regarding Citigroup’s sales and trading activities in connection with sovereign and other government-related securities," the bank stated in a securities filing.

The bank declared that it is assisting the investigating authorities.

The financial technology company Robinhood announced on Wednesday that the Securities and Exchange Commission's (SEC) Division of Enforcement had requested information about the platform's adherence to Regulation SHO's trade reporting requirements, which govern short sale practices.

In a securities filing, Robinhood stated the SEC is now looking for information about how the company handled "trade reporting and other requirements in connection with securities lending and fractional share trading," in addition to the information it previously requested about the company's compliance with Regulation SHO in October 2021. The business claimed that it had previously received similar information requests from the Financial Industry Regulatory Authority's examinations team.

According to Robinhood, it is cooperating with the SEC's investigation.



bottom of page