13 Apr 2012

Goldman Sachs fined

12:29 pm on 13 April 2012

Goldman Sachs has been fined $US22 million by US regulators to settle charges that some top clients may have been tipped off about stocks.

The Securities & Exchange Commission says the bank lacked policies to prevent leaks from their weekly huddles on equity research.

That sort of information includes an analyst's recommendation on whether to buy or sell stocks.

As part of the deal, Goldman neither admitted nor denied the charges.

The SEC has been criticised over its continued use of settlements where banks do not admit liability in the aftermath of the financial crisis.