Fed prepares action against Goldman Sachs

The U.S. Federal Reserve is preparing an enforcement action against Goldman Sachs Group Inc (GS.N) related to a leak of confidential government information to one of its employees.

This will include a penalty of less than $50 million.

The Fed is also considering taking action against a former Goldman executive who had access to the leaked material, which did not name the former executive.

Goldman Sachs shared that the employee and the senior who failed to escalate the issue were already terminated.

The company said it had started an investigation and appropriate regulators were notified as soon as the company learned about the leak.

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