Goldman Gets Rid Of Its Controversial "Huddles"


Photo: hootervillefan via Flickr

The Massachusetts Secretary of the Commonwealth William Galvin said Goldman Sachs was fined $10 million and agreed to halt internal meetings known as “huddles,” says Bloomberg.It seems that some clients were invited to meetings that others weren’t, so the excluded clients were concerned that they were getting better stock tips.

Goldman sent out a memo clarifying that the huddles weren’t for stock tips last summer, but obviously, that wasn’t enough.

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