Goldman Sachs banker settles SEC's 'pay-to-play' charges

WASHINGTON Thu May 23, 2013 2:32pm EDT

WASHINGTON May 23 (Reuters) - Former Goldman Sachs banker Neil Morrison agreed to pay $100,000 to settle charges for his role in a pay-to-play scheme involving a Massachusetts gubernatorial campaign, the largest such fine ever levied on an individual, the Securities and Exchange Commission said on Thursday.

Morrison also was barred from the securities industry for five years. Goldman Sachs previously settled charges relating to the case in September, paying $12 million.

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