Finance

Fed terminates 2016 enforcement action against Goldman Sachs for confidential data misuse

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The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo

WASHINGTON, Nov 23 (Reuters) - The U.S. Federal Reserve announced Tuesday it had terminated a 2016 enforcement action against Goldman Sachs (GS.N), which had been imposed over misuse of confidential data.

The consent order, directed alongside a $36.3 million fine, required the bank to submit a plan to strengthen policies, after a former employee illegally obtained documents from a friend at the Federal Reserve Bank of New York.

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Reporting by Pete Schroeder

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