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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Goldman Sachs Group Inc | NYSE:GS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 426.71 | 28 | 11:46:24 |
By Justin Baer
Goldman Sachs Group Inc. moved to block bankers and other employees from trading individual stocks and debt securities in their own personal accounts, or investing in certain hedge funds, people familiar with the matter said.
The new restrictions, which were distributed to employees after the close of trading on Friday, go into effect immediately, one of the people said. The new rules are part of a continuing review of the Wall Street firm's compliance policies, the person said. While some of the policies apply to all employees, they are targeted primarily at the investment bankers and other staffers who have access to confidential information, the person said.
The policies are designed to help employees manage potential conflicts with the firm and its clients, and avoid actions that may ultimately draw regulatory scrutiny, one person said.
Goldman's role on both sides of a merger between two energy companies drew a harsh rebuke from Delaware Chancellor Leo Strine Jr. in 2012. A 2013 lawsuit by a former Federal Reserve Bank of New York examiner revealed disagreements within the regulator over the heft of the firm's conflicts-of-interest policies. Earlier Friday, excerpts from the former examiner's secret recordings were featured in reports by ProPublica and the radio program, "This American Life."
Write to Justin Baer at justin.baer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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