SEC Fines Alphabet, Goldman Sachs, and Others $3.8 Million for Late Filings

The U.S. Securities and Exchange Commission (SEC) announced on Wednesday that Alphabet, Goldman Sachs, and several other firms will collectively pay $3.8 million in penalties for late filings. The fines are part of a broader enforcement action aimed at addressing tardy disclosures related to beneficial ownership changes and insider stock sales.

Alphabet, the parent company of Google, will pay $750,000, while Goldman Sachs is set to incur a $300,000 penalty. Other firms involved include Bank of Nova Scotia, which will pay $375,000, and Bain Capital Credit Member, which faces a $130,000 fine.

In addition to these penalties, the SEC also charged a number of smaller firms for similar violations, with penalties ranging from $40,000 for Sunbeam Management to $225,000 for Essex Woodlands Management.

All firms and individuals involved neither admitted nor denied the SEC’s findings but agreed to pay the civil penalties and commit to ceasing further violations.

The SEC continues to emphasize the importance of timely disclosures, as they play a crucial role in maintaining transparency and investor confidence in the market.