Goldman Sachs fined $22m for info leaks to top clients

Goldman Sachs has been fined $22m by a US regulator for failing to prevent upcoming research from its analysts being passed on to its top clients.

The Securities and Exchange Commission (SEC) said between 2006 and 2011, the company held weekly 'huddles', often attended by sales personnel. In these sessions,  analysts discussed their top short-term trading ideas and traders gave their views on the markets. In 2007, analysts began sharing information and trading ideas from the huddles with select clients, creating a serious risk that non-public information about upcoming changes to their published research might be distributed to clients and the firm's traders. Robert S. Khuzami, director of the SEC's Division of Enforcement, said...