Federal Reserve Fines Goldman Sachs $36 Million in Document Leak
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Goldman Sachs’s building in Lower Manhattan. The fine stems from a 2014 incident in which a Goldman banker received data from a New York Fed employee. CreditSpencer Platt/Getty Images
The Federal Reserve took action on Wednesday against Goldman Sachs and one of its former executives, escalating a long-running investigation into a leak of confidential government information.
The action, which forced Goldman to pay a $36.3 million penalty, stemmed from an incident in 2014, when a junior Goldman banker took confidential information from the Federal Reserve Bank of New York. The junior banker, whom Goldman promptly fired, received the information from aNew York Fed employee.
Both men pleaded guilty to stealing government property, and Goldman paid a $50 million penalty to New York State regulators because its “management failed to effectively supervise” the banker…
Federal Reserve Fines Goldman Sachs $36 Million in Document Leak
