Violation Tracker Individual Record

Company: 
Goldman Sachs Group Inc.
Current Parent Company: 
Goldman Sachs
Penalty: 
$1,006,000,000
Year: 
2020
Date: 
October 22, 2020
Offense Group: 
competition-related offenses
Primary Offense: 
Foreign Corrupt Practices Act
Violation Description: 

The Securities and Exchange Commission announced charges against The Goldman Sachs Group Inc. for violations of the Foreign Corrupt Practices Act in connection with the 1Malaysia Development Berhad bribe scheme, and as part of coordinated resolutions, it has agreed to pay more than $1 billion to settle the SEC's charges. The SEC penalty amount is included in the $2.9 billion criminal case announced by the Justice Department. See the deferred prosecution agreement posted at https://www.justice.gov/criminal-fraud/file/1329926/download

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.