Fed Fines Goldman Sachs $36 Million

Markets Reuters

The U.S. Federal Reserve Board said on Wednesday it has ordered Goldman Sachs Group (GS) to pay $36.3 million in fines for the unauthorized use and disclosure of confidential information.

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The Fed Board also said it is seeking to impose a fine on former Goldman managing director, Joseph Jiampietro, and bar him from the industry.

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The Fed Board also ordered Goldman to implement an enhanced program to ensure the proper use of confidential supervisory information.(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza)