The FSA fined Goldman Sach's £ 34 million ($ 45 million) for "failure to properly and timely report" to the authorities.
"These were serious and long-standing errors," said Mark Steward, FCA enforcement and market surveillance director, in a statement.
Financial institutions must submit timely transaction reports on trades. They describe the product being exchanged, the trading venue and the identities of buyers and sellers.
These reports are used by regulatory authorities to cheat market abuse and monitor banks.
Goldman Sachs and other major financial players make countless trades every day. The vast majority are reported accurately.
Still, Steward said the mistakes "demonstrate an error over an extended period to control and test controls that are crucial to the integrity of our markets. "
UK regulators gave Goldman Sachs a 30% discount on its fine because the bank agreed to settle the case.
"We are happy to have solved this legacy issue," Goldman Sachs said in a statement. The bank said it dealt with the problem "proactively" and has since made significant investments to "improve" its reporting procedures.