Goldman Sachs to Review Policy on Conflicts of Interest (GS, KMI, EP, BCS, BAC, C)

Banking, finance, and taxes

Published: March 16, 2012 12:23 pm

Mergers and acquisitions bankers may become subject to stricter rules for revealing their personal investments as a result of a review now being conducted at Goldman Sachs Group Inc. (NYSE: GS). A Delaware judge recently scolded Goldman for failing to disclose its top M&A banker’s personal $340,000 investment in Kinder Morgan Inc. (NYSE: EP) to El Paso Corp. (NYSE: EP) while the bank was negotiating the $21 billion acquisition of El Paso by Kinder Morgan.

According to a report in The Wall Street Journal, “Many bankers said they consider personal stockholdings a ‘common-sense’ disclosure. As a result, conflicts due to a financial adviser’s personal holdings rarely become a problem … .” The report also noted that Barclays plc (NYSE: BCS), Bank of America Corp. (NYSE: BAC), and Citigroup Inc. (NYSE: C) are also reviewing their conflict of interest rules.

Goldman Sachs is under particular scrutiny now, following the publication of a scathing op-ed piece by one of its former executive directors.

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps