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Check this one out on Goldman Sacks...this just makes you sick really when you read.  In barely a month and a half, Goldman had over 400 violations for fail to deliver associated transactions....total fine...$450k.  That's like...an accounting error on probably one of the transactions...or fining one of a dime...(you can go to the exchanges websites and find some of this stuff, but you will have to look...trust me...it's not on the homepage...)

Case Note
Violated Rule 204T(a) of Regulation SHO by failing to timely close out fail-to-deliver positions in certain equity securities; violated Rule 204T(b) of Regulation SHO by accepting certain customer short sale orders in equity securities for which it had an open fail-to-deliver position while it and customer were in "penalty box," as customer had not first borrowed such securities or entered into bona fide arrangement to borrow the securities; violated Rule 204T(c) of Regulation SHO by failing to timely notify its customers that it had an open fail-to-deliver position that had not been closed out in accordance with Rule 204T(a); violated NYSE Rule 342 by failing to reasonably supervise and implement adequate controls, including separate system of follow-up and review, reasonably designed to achieve compliance with Rule 204T of Regulation SHO – Consent to censure and a $450,000 fine.  The amount to be paid to NYSE Regulation by Firm shall be reduced by the amount paid by Firm pursuant to agreement to pay civil monetary penalty of $225,000 in related proceedings instituted by the SEC. 

Case Summary
Goldman Sachs Execution & Clearing, L.P. of Jersey City, N.J., a member firm, consented without admitting or denying guilt to violations of SEC Rule 204T of Regulation SHO.
An NYSE hearing officer found that from on or about Dec. 9, 2008 to on or about Jan. 22, 2009, Goldman Sachs Execution & Clearing, L.P. ("GSEC") violated SEC Rule 204T of Regulation SHO on certain occasions by:

failing on approximately 68 occasions to timely close out fail-to-deliver positions in equity securities;
accepting on approximately 385 occasions customer short sale orders in certain equity securities for which it had an open fail-to-deliver position that had not been timely closed out in accordance with SEC Rule 204T of Regulation SHO without first borrowing the securities or entering into a bona fide arrangement to borrow the securities (also referred to as the “pre-borrow† requirement); and
failing on approximately 68 occasions to timely notify certain customers that there was an open fail-to-deliver position in certain equity securities that had not been timely closed out in accordance with SEC Rule 204T(a) of Regulation SHO. 
In addition, during the period of Sept. 24, 2008 to Jan. 22, 2009, GSEC failed to reasonably supervise and implement adequate controls to achieve compliance with SEC Rule 204T of Regulation SHO, in violation of NYSE Rule 342.

The NYSE imposed a penalty of a censure and a $450,000 fine.  The amount to be paid to NYSE Regulation by the Firm shall be reduced by the amount paid by the Firm pursuant to an agreement  to pay a civil monetary penalty of $225,000 to the United States Treasury in related proceedings instituted by the Securities and Exchange Commission today.  GSEC consented to the penalty.

This decision will become final on May 28, 2010.