SEC to Pursue Goldman Inside-Trading Case
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Goldman Sachs Group Inc. has been notified that the Securities and Exchange Commission enforcement staff plans to pursue a case against the securities firm for allegedly trading Treasury bonds based on inside information, a person familiar with the case said.
The agency began investigating Goldman after a consultant the firm had hired gave traders advance warning Oct. 31 that the Treasury Department would stop selling 30-year bonds. The $3-trillion Treasury market rallied, with the 30-year bond having its biggest one-day gain in 14 years.
Goldman, the SEC and the Treasury Department declined to comment.
Goldman spokesman Peter Dietlmaier said Nov. 12 that the firm was among those told of the Treasury Department’s decision before the announcement and did not engage in wrongful behavior.
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