Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Goldman Sachs Group, Inc.
Current Parent Company: Goldman Sachs
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $154,000,000
Year: 2020
Date: October 22, 2020
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Federal Reserve Board announced it had fined the Goldman Sachs Group, Inc. $154 million for the firm's failure to maintain appropriate oversight, internal controls, and risk management with respect to Goldman's involvement in a far-reaching scheme to defraud a Malaysian state-owned investment and development company, 1Malaysia Development Berhad (1MDB).
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.