Defendant Name: Goldman, Sachs & Co.

Defendant Type: Subsidiary of Public Company

Document Reference: 2012-61

Document Details

Legal Case Name In the Matter of Goldman, Sachs & Co.
Document Name SEC Charges Goldman, Sachs & Co. Lacked Adequate Policies and Procedures for Research "Huddles"
Document Date 12-Apr-2012
Document Format Administrative Proceeding
File Number 3-14845
Allegation Type Broker Dealer
Document Summary On April 12, 2012, the SEC announced charges that, "Goldman, Sachs & Co. lacked adequate policies and procedures to address the risk that during weekly 'huddles,' the firm's analysts could share material, nonpublic information about upcoming research changes. Huddles were a practice where Goldman's stock research analysts met to provide their best trading ideas to firm traders and later passed them on to a select group of top clients."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking

Related Documents:

34-66791 12-Apr-2012 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On April 12, 2012, the SEC instituted a settled administrative proceeding against Goldman, Sachs & Co. According to the SEC: "This matter concerns Goldman's failure to establish, maintain, and enforce adequate policies and procedures concerning its trading 'huddle' program -- a practice where Goldman's equity research analysts provided their best trading ideas to firm traders and a select group of Goldman's top clients."