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Violation Tracker Individual Record

Company: Goldman Sachs & Co.
Current Parent Company: Goldman Sachs
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $22,000,000
Year: 2012
Date: April 12, 2012
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: The Securities and Exchange Commission announced that Goldman Sachs settled allegations that it lacked adequate policies and procedures to address the risk that during weekly "huddles," the firm's analysts could share material, nonpublic information about upcoming research changes. Huddles were a practice where Goldman's stock research analysts met to provide their best trading ideas to firm traders and later passed them on to a select group of top clients.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
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.