NY State Banking Regulator Fines Goldman Sachs

Posted by Joachim Bartels | Nov 5, 2015 | Governance & Compliance | 0 |

New York’s state banking regulator has slapped a $50m fine on Goldman Sachs and ordered it to suspend consulting activities for three years after an employee stole secret supervisory information from the Federal Reserve Bank of New York.

On Wednesday, Goldman admitted that it had failed properly to supervise a 30-year old associate who joined the firm last July after seven years at the New York Fed.

Source: Financial Times

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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