Add Goldman Sachs to the list of banks under regulatory review over Panamanian shell companies.
Bloomberg News reports that New York’s Department of Financial Services has asked Goldman Sachs and three other banks to provide it with information about shell companies established through a Panamanian law firm, according to a person briefed on the matter. The other banks are BNP Paribas, Canadian Imperial Bank of Commerce and Standard Chartered, this person said.
The banks aren’t accused of wrongdoing. Spokesmen for Goldman Sachs and Standard Chartered declined to comment on the DFS request. The other banks did not immediately respond to requests for comment.
DFS issued a similar request to 13 other banks last month, after news agencies published articles about global banks that used the law firm Mossack Fonseca to set up shell companies for owners who wanted anonymity. The first set of articles, based on documents leaked from the law firm and shared with the International Consortium of Investigative Journalists, identified the banks that sponsored the most shell companies on behalf of their clients.
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