Merrill Lynch and five other Wall Street firms have been ordered by the New York Stock Exchange to pay $500,000 each for submitting inaccurate investigative documents called “blue sheets” to the exchange, according to MarketWatch. Among the inaccuracies, according to the NYSE, was reporting short sales as long sales.
The half a million amount is the most charged to any of the offenders. The remaining firms, which included Credit Suisse First Boston, Goldman Sachs & Co., Lehman Brothers, Wachovia Corp. Charles Schwab Corp. E-Trade Financial Corp. and LaBranche & Co., among others, paid fines of $150,000 or $300,000 based on “each firm’s responsibility.” All the firms reportedly have agreed to have their blue sheets validated in the future.