Defendant Name: SLK-Hull Derivatives LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: The Goldman Sachs Group, Inc
SIC Code: 6712
CUSIP: 38141G10

Initial Case Details

Legal Case Name In the Matter of Goldman Sachs Execution & Clearing, L.P. and SLK-Hull Derivatives LLC
First Document Date 04-Mar-2009
Initial Filing Format Administrative Action
File Number 3-13394
Allegation Type Broker Dealer

Violations Alleged

Section 11(b) Exchange Act; Rule 11b-1 Exchange Act


First Resolution Date 04-Mar-2009
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-59505 04-Mar-2009 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b)(4) and 21C of the Securities Exchange Act of 1934
On March 4, 2009, the SEC instituted settled administrative and cease-and-desist proceedings against Goldman Sachs Execution & Clearing, L.P. and SLK-Hull Derivatives LLC, stating: "This matter involves violations by GSEC and SHD of their basic obligation as specialists to serve public customer orders over their own proprietary interests. As specialist firms on each of the Exchanges, GSEC and SHD had a general duty to match executable public customer or “agency” buy and sell orders and not to fill customer orders through trades from the firms’ own accounts when those customer orders could be matched with other customer orders. From 1999 through 2005 (the “Relevant Period”), GSEC and SHD violated this obligation by filling orders through proprietary trades rather than through other customer orders, thereby causing customer orders to be disadvantaged by approximately $6 million."
2009-42_3-13394 04-Mar-2009 Press Release--Administrative Proceeding
SEC Charges 14 Specialist Firms for Improper Proprietary Trading
The SEC stated that: "[It] brought enforcement actions against 14 specialist firms for unlawful proprietary trading on several regional and options exchanges. The firms agreed to settle the SEC's charges by collectively paying nearly $70 million in disgorgement and penalties. The SEC charged the specialist firms for violating their fundamental obligation to serve public customer orders over their own proprietary interests by "trading ahead" of customer orders, or "interpositioning" the firms' proprietary accounts between customer orders."

Other Defendants in Action: