NEW YORK, March 4 (Westlaw Business) Being an insider with a fiduciary duty sure is risky, as heavyweight Rajat Gupta is now finding out amidst serious SEC charges. So is having board members, as Goldman Sachs and Procter and Gamble are now worrying. Of great concern to each are the reputational risks and attendant costs that this might impose on them. The potential risks could relate to a broad range of issues, ranging from inside information, to disclosure of SEC investigation and board member protection. Though this likelihood may seem remote, recent experiences from Bank of America to Goldman Sachs itself show them to be painfully possible.
Financial Regulatory Forum
By Matthew Goldstein and Steve Eder
NEW YORK, June 4 (Reuters) – The decision of Goldman Sachs Group Inc not to tell shareholders that U.S. regulators might sue the bank over a subprime mortgage-linked security could cause other companies to rethink the way they handle regulatory investigations.