Goldman facing Fed action over document leaks

Dripping Tap

Goldman Sachs is facing a Federal Reserve enforcement action over the 2014 leak of confidential documents to the bank by one of the regulator’s employees, according to the New York Times.

Bloomberg News reports that Goldman Sachs is expected to pay a fine to settle the case, the Times reported Monday, citing people familiar with the matter that it didn’t identify.

The Fed is also considering action against a former Goldman Sachs executive who worked with the banker that received the leaked information, the newspaper said, adding the agreement could be announced in coming weeks.

The penalty is expected to be less than the $50m Goldman Sachs paid to the New York Department of Financial Services last year in a separate settlement, according to the Times. Jason Gross, a former Fed staff member, admitted in 2015 that he passed documents, including information about a midsize New York bank to Rohit Bansal, a Goldman Sachs banker. Bansal, who previously worked with Gross at the Fed, pleaded guilty last year to a misdemeanor in connection with the leak.

To access the complete Bloomberg News article hit the link below:

Goldman Faces Fed Enforcement Action in Leak Case: NY Times

Bear Stearns Withheld Details on Financial Condition, Judge Says

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts