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Fed terminates 2016 enforcement action against Goldman Sachs for confidential data misuse -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Goldman Sachs logo can be seen on the New York Stock Exchange floor in New York City (USA), July 13, 2021. REUTERS/Brendan McDermid/File Photo

WASHINGTON (Reuters), – Tuesday’s announcement by the U.S. Federal Reserve stated that Goldman Sachs had lost its 2016 enforcement action (NYSE:) against it. The case was brought about due to misuse of confidential data.

Along with a $36.3 million penalty, the consent order required the bank’s submission of a plan to improve policies. This was after an ex-employee illegally obtained documents from the Federal Reserve Bank of New York.

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