{"id":1445,"date":"2014-05-09T18:45:39","date_gmt":"2014-05-09T18:45:39","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/05\/goldman_sachs_under_investigat"},"modified":"2022-03-11T10:18:24","modified_gmt":"2022-03-11T16:18:24","slug":"goldman-sachs-under-investigat","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/goldman-sachs-under-investigat\/","title":{"rendered":"Goldman Sachs Under Investigation Over Hiring Practices, High-Frequency Trading"},"content":{"rendered":"

\t\t\t\tGoldman Sachs (GS) Group Inc. said it is under scrutiny in probes related to high-frequency trading and whether its hiring practices comply US antibribery laws. This is the first time the firm has publicly disclosed both investigations. The information was made available via Goldman’s quarterly filing with the SEC. <\/p>\n

In the bank hiring practices investigation, Credit Suisse Group Ag (CS), Morgan Stanley (MS), UBS AG (UBS)<\/a>, and Citigroup (C) a<\/a>re also under scrutiny. The Securities and Exchange Commission wants to know whether the banks or their staff hired the relatives of well-connected officials in Asia, which could be a violation of the antibribery laws-in particular, the Foreign Corrupt Practices Act, which prevents companies from giving foreign officials items of value in exchange for business. Although it isn’t illegal to hire government officials’ relatives in Asia, hires cannot just be made for the purpose of earning new business. <\/p>\n

As for the high-speed trading probe, the US Justice Department, the SEC, New York Attorney General Eric Schneiderman, and the Federal Bureau of Investigation are assessing trades that engage in fast algorithmic trading. Schneiderman wants to know if firms involved in high-speed trading have secret deals with trading venues, such as dark pools and stock exchanges, that lets them trade before other investors. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs (GS) Group Inc. said it is under scrutiny in probes related to high-frequency trading and whether its hiring practices comply US antibribery laws. This is the first time the firm has publicly disclosed both investigations. The information was made available via Goldman’s quarterly filing with the SEC. In the bank hiring practices investigation, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3754],"tags":[2598],"class_list":["post-1445","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-goldman-sachs-1","tag-high-frequency-trading"],"yoast_head":"\nGoldman Sachs Under Investigation Over Hiring Practices, High-Frequency Trading — Investor Lawyers Blog — May 9, 2014<\/title>\n<meta name=\"description\" content=\"Goldman Sachs (GS) Group Inc. said it is under scrutiny in probes related to high-frequency trading and whether its hiring practices comply US antibribery — May 9, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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