Defendant Name:
Goldman, Sachs & Co.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
The Goldman Sachs Group, Inc
SIC Code:
6211
CUSIP:
38141G10
Document Reference:
34-67934
Document Details
Legal Case Name
In the Matter of Goldman, Sachs & Co.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b), 15B(c)(2) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
27-Sep-2012
Document Format
Administrative Proceeding
Allegation Type
Municipal Securities & Public Pensions
Document Summary
According to the SEC: "These proceedings involve 'pay-to-play' violations by Goldman, Sachs & Co. ('Goldman Sachs'), a broker-dealer and registered municipal securities dealer, arising from the conduct of Neil M.M. Morrison ('Morrison'), a former vice president in the investment banking division of Goldman Sachs." The pay-to-play violations related to Morrison's solicitation of municipal underwriting business from the Commonwealth of Massachusetts Treasurer's Office contemporaneous with Morrison's participation, using Goldman Sachs resources, in the gubernatorial campaign of Timothy P. Cahill, the then-Treasurer of Massachusetts.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$7,558,942.00
Shared:
Civil Penalty
Individual:
$3,750,000.00
Shared:
Pre-Judgment Interest
Individual:
$670,033.00
Shared:
