http://dealbook.nytimes.com/2013/10/10/bank-examiner-was-told-to-back-off-goldman-suit-says/?_r=0
At a March 2012 meeting, a group of examiners at the Federal Reserve Bank of New York agreed that Goldman Sachs
had inadequate procedures to guard against conflicts of interest —
guidelines aimed at stopping firms from putting their pursuit of profit
ahead of their clients’ best interests.
The examiners voted to downgrade a confidential rating assigned by
the New York Fed that could have spurred costly enforcement actions and
other regulatory penalties. It is not known whether the vote in fact led
to a rating change. The former examiner who pushed for a downgrade,
Carmen M. Segarra, now contends in a lawsuit filed on Thursday that just
weeks after the vote, her superiors asked her to change her findings on
Goldman and fired her after she refused.
The vote to downgrade, which has not been previously reported, could have been a big blow for Goldman.
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