Secretary of the Commonwealth of Massachusetts William Galvin wants to know what really went down in those weekly “huddles” meetings over at Goldman and has subpoenaed the firm.
Earlier this week, the Wall Street Journal reported on the firm’s practice to tip its bigger clients earlier than anyone else. Since then, FINRA and the SEC asked for more information, and now Galvin is hopping on the you’re-not-going to get-away-that-easy-with-it bandwagon.
Galvin is concerned the practice puts some customers at a disadvantage, he said yesterday.”We want to know everything that occurred in the trading huddles and how it was disseminated,” said Galvin. The company’s response is due in September, he said.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.