{"id":6026,"date":"2016-08-04T00:00:00","date_gmt":"2016-08-04T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/08\/fed_orders_goldman_sachs_to_pa"},"modified":"2022-05-18T15:41:16","modified_gmt":"2022-05-18T20:41:16","slug":"fed-orders-goldman-sachs-to-pa","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/fed-orders-goldman-sachs-to-pa\/","title":{"rendered":"Fed Orders Goldman Sachs to Pay $36M Fine Over Confidential Documents Leak"},"content":{"rendered":"

Goldman Sachs Group Inc. (GS) will pay $36.3M to settle allegations accusing ex-employees of obtaining access to confidential documents from the Federal Reserve. The Fed contends that Joseph Jiampietro, while working as a Goldman Sachs managing director, obtained the unauthorized supervisory data belonging to bank regulators and utilized the information for his work at the financial firm.<\/p>\n

The Fed said that ex-Goldman Sachs banker Rohit Bansal was the one who shared the confidential documents with Jiampietro. Bansal had gotten the documents from his friend Jason Gross, a New York Fed employee that he used to work with at the regulatory agency. The confidential data involved a bank that was a client of Goldman Sachs. Last year, Bansal pleaded guilty to a misdemeanor charge involving the Fed documents, while Gross pleaded guilty to giving Bansal the information.<\/p>\n

The Fed believes that Jiampietro used the confidential information to make pitches to potential and current clients. A lawyer for Jiampietro, who had previously worked for UBS Group Ag (UBS) <\/a>and JPMorgan Chase & Co. (JPM)<\/a>, maintains that the allegations against his client are \u201cdemonstrably false.\u201d<\/p>\n

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

Goldman Sachs Group Inc. (GS) will pay $36.3M to settle allegations accusing ex-employees of obtaining access to confidential documents from the Federal Reserve. The Fed contends that Joseph Jiampietro, while working as a Goldman Sachs managing director, obtained the unauthorized supervisory data belonging to bank regulators and utilized the information for his work at the […]<\/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":[3752,3947],"tags":[],"class_list":["post-6026","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-goldman-sachs"],"yoast_head":"\nFed Orders Goldman Sachs to Pay $36M Fine Over Confidential Documents Leak — Investor Lawyers Blog — August 4, 2016<\/title>\n<meta name=\"description\" content=\"Goldman Sachs Group Inc. 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