Spear, Leeds and Kellogg, the Goldman Sachs subsidiary, was fined $200,000 (€165,091) yesterday by NYSE Regulation for failing to properly disclose contacts with prospective listing companies.

NYSE Regulation, the not-for-profit unit of NYSE Group, pointed to the company's violation of procedures relating disclosure of contacts with prospective listing companies in two separate instances between June 2003 and March 2004.