Goldman Sachs Is Being Investigated For Its Hiring Practices, High Frequency Trading

Big Bank Under Scrutiny For Hiring Practices
|
FILE - In this Monday, Sept. 24, 2012, file photo, Lloyd Blankfein, Chairman and CEO of Goldman Sachs, attends the Clinton Global Initiative in New York. Goldman Sachs easily beat analysts' estimates for earnings and revenue in 2012's third quarter, bouncing back from a loss in the same period a year ago. The investment bank also said it would raise its dividend. (AP Photo/Mark Lennihan)
FILE - In this Monday, Sept. 24, 2012, file photo, Lloyd Blankfein, Chairman and CEO of Goldman Sachs, attends the Clinton Global Initiative in New York. Goldman Sachs easily beat analysts' estimates for earnings and revenue in 2012's third quarter, bouncing back from a loss in the same period a year ago. The investment bank also said it would raise its dividend. (AP Photo/Mark Lennihan)

(Reuters) - Goldman Sachs Group Inc

The Wall Street Journal reported earlier this week that the U.S. Securities and Exchange Commission had expanded its probe into the hiring practices of at least five U.S. and European banks in Asia, including Goldman.

The SEC is examining whether the banks or their employees violated anti-bribery laws by hiring relatives of well-connected officials, the WSJ reported.

Goldman, in a quarterly filing on Friday, did not provide any details of the investigation into whether it was in compliance with the U.S. Foreign Corrupt Practices Act.

Goldman also said it was a defendant in a class-action lawsuit related to high frequency trading, filed in the U.S. District Court for the Southern District of New York on April 18. (http://link.reuters.com/pav29v)

(Reporting by Avik Das in Bangalore; Editing by Saumyadeb Chakrabarty)

Before You Go

$32.5M Bridgehampton Estate

Goldman Sach's CEO New House

Popular in the Community