Between January 2020 and September 2023, Goldman submitted untimely or inaccurate notifications with FINRA in 156 instances in connection with its participation in distributions of securities subject to Regulation M under the Securities Exchange Act of 1934. As a result, Goldman violated FINRA Rules 5190 and 2010. In addition, between January 2020 and September 2023, Goldman's supervisory system, including written supervisory procedures (WSPs), was not reasonably designed to achieve compliance with FINRA Rule 5190. As a result, the firm violated FINRA Rules 3110 and 2010.