Goldman settles SEC charges over 2013 options trading incident

(Reuters) - Goldman Sachs Group Inc will pay $7 million to resolve U.S. Securities and Exchange Commission charges stemming from a trading incident in which the Wall Street bank flooded the stock options market with erroneous orders. The SEC said Goldman sent about 16,000 mispriced options orders to various exchanges on Aug. 20, 2013, leading to about 1.5 million options contracts, representing 150 million shares, being executed within minutes after the market opened. By lacking proper safeguard