Goldman Sachs gets fined by the Fed

Goldman Sachs gets fined by the Fed

It is definitely not music to the ears of one of the biggest banks in States. The Federal Reserve announced that it had fined Goldman Sachs USD 36.3 million for improperly obtaining and distributing confidential regulatory information. Former senior banker Joseph Jiampietro was held at fault. The Fed claims that he improperly used confidential documents obtained from the US central bank to advise small and medium-sized banks in 2014 on Federal Reserve oversight.

Goldman Sachs in October 2015 already paid a USD 50 million fine to New York state regulators in the case.

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