Posted 2 years ago on Sept. 30, 2012, 6:54 p.m. EST by GirlFriday
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Sept. 27 (Bloomberg) -- Goldman Sachs Group Inc. will pay about $12 million to resolve U.S. regulatory claims that a former banker made improper campaign contributions to the state treasurer of Massachusetts while seeking underwriting business from his office.
The campaign work by Morrison, 38, disqualified Goldman Sachs from engaging in municipal underwriting business with certain Massachusetts issuers for two years after the contributions, the SEC said. Nevertheless, the New York-based firm participated in 30 prohibited underwritings, earning more than $7.5 million in improper fees, according to the agency.