Barclays, Goldman Sachs, Merrill Lynch fined $1M each by Finra

Three major banks has settled an insider trading related case with the Financial Industry Regulatory Authority, according to an AP report. $1 million fine for three banks In agreeing to pay the $1 million fine each, the banks don’t admit nor deny the charges and key documentation regarding alleged criminal behavior may remain sealed. The case stems from improper submission of regulatory forms, known as “blue sheets,” used to identify insider trading.  Brokerage firms are required to submit information such as customer names and contact information along side details about each transactions. Banks submitted incorrect information on customer trades, names…