Goldman Sachs (GS) to pay USD 22 million to settle dispute

New York, April 13 (FinanceEnquiry.com) – American multinational investment banking and securities firm, Goldman Sachs Group Inc (NYSE: GS) will have to pay $22 million to settle dispute as U.S. regulators’ claims, that the firm failed to apply policies to keep its stock analysts from tipping select clients about approaching research alterations.

On Thursday, Securities and Exchange Commission stated that from 2006 to 2011, the firm held weekly conferences, where analysts discussed about short-term trading ideas and traders shared their views of the markets. The group meeting created ‘a serious risk’ that clients and workers have the liberty to trade on the non-public information.

The Goldman Sachs was founded in 1869. It engages in global investment banking, securities, investment management, and other financial services mainly with institutional customers. The company gives mergers and acquisitions advice, asset management, underwriting services and prime brokerage to its clients.

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