Goldman Sachs now to Prohibit Bankers From Buying Stocks - conflict of interest
Subject: Goldman Sachs now to Prohibit Bankers From Buying Stocks – conflict of interest
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Goldman Sachs now to Prohibit Bankers From Buying Stocks – conflict
of interest
… Employees at the New York-based firm were notified yesterday
of the change, which takes effect immediately, said the person,
who requested anonymity because the matter isn’t public. They also
aren’t allowed to invest in activist or event-driven hedge funds,
the person said. Previously, bankers needed approval before they
could invest in individual stocks.
The change came on the same day that a former Federal Reserve Bank
of New York examiner’s recordings of her ex-colleagues’ dealings
with Goldman Sachs were featured in reports by public radio and
ProPublica. The former examiner, Carmen Segarra, sued the New
York Fed last year, alleging that she was fired in 2012 because
she refused to change her finding that Goldman Sachs didn’t have
a conflict-of-interest policy. Her case was dismissed in April and
she’s appealing.
http://www.bloomberg.com/news/2014-09-26/goldman-sachs-said-to-prohibit-bankers-from-buying-stocks.html>
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Source: http://nesaranews.blogspot.com/2014/10/goldman-sachs-now-to-prohibit-bankers.html
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