Goldman cites US probe of how it allocates bondsFebruary 28, 2014 @ 4:10 pm
WASHINGTON (AP) - Goldman Sachs has disclosed that federal regulators are examining how it divides up newly issued bonds among investors.
In a regulatory filing Friday, Goldman said regulators are investigating the trading and allocation of its bond issues. The Wall Street Journal reported Friday that the Securities and Exchange Commission is examining how Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street banks allocate new corporate bond issues and whether they unfairly favor some investors over others. It cited people familiar with the matter.
Representatives of Citigroup and Goldman declined to comment Friday. SEC spokesman John Nester would neither confirm nor deny an investigation by the agency.
Wall Street banks sell securities for clients looking to raise money in the capital markets, and they distribute the securities to various investors.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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