Citigroup will review its conflict-of-interest policy for investment bankers after Goldman Sachs Group Inc. barred some employees from owning individual securities, said a person with direct knowledge of the matter.
Bloomberg News reports that executives at Citigroup still regard its less-restrictive policy as strong enough to prevent conflicts, according to the person, who asked for anonymity because the review isn’t public.
The bank also may consider how the rest of the industry reacts to Goldman Sachs’s decision before taking action, the person said.
Goldman Sachs, which previously required bankers to get approval before they could trade individual securities, told employees about the change on Sept. 26, a person with direct knowledge of the matter said at the time. Banks monitor staff investments to prevent insider trading and to counter claims that they put the interests of employees ahead of clients.
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