04.08.2022

Fed Bars Ex-Goldman Sachs Employee

04.08.2022

The Federal Reserve Board announced that it permanently barred from the banking industry Joseph Jiampietro, a former managing director at Goldman Sachs Group, Inc. Jiampietro agreed to the prohibition, stemming from his unauthorized use and disclosure of confidential supervisory information.

Confidential supervisory information includes bank examination reports and other confidential reports prepared by banking regulators. It is illegal to use or disclose confidential supervisory information without prior approval of the appropriate banking regulator.

In August 2016, the Board announced that it was instituting enforcement proceedings against Jiampietro and sought to permanently bar him from employment in the banking industry. The prohibition today will end those proceedings.

Source: The Federal Reserve Board

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