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Tags: Goldman Liquidates Two Proprietary Trading Desks

Goldman Liquidates Two Proprietary Trading Desks

Tuesday, 01 March 2011 09:31 AM

Goldman Sachs Group Inc. has closed down one proprietary trading desk and is liquidating another due to new U.S. regulatory restrictions on making bets with its own money, the investment bank said in its annual filing with regulators Tuesday.

The U.S. Dodd-Frank financial regulatory reform law, enacted in July, included the "Volcker rule" restricting banks' proprietary trading.

Goldman "liquidated substantially all of the positions that had been held" in its equities unit's principal strategies proprietary trading desk during 2010, according to the filing.

This quarter, Goldman started closing the "global macro proprietary trading desk" in its fixed-income unit.

The bank said in the filing that it took these actions "in light of the Dodd-Frank Act."

Goldman also said in the filing that it had recently resumed some foreclosure and eviction activities in its mortgage servicing unit.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
Goldman Sachs Group Inc.has closed down one proprietary trading desk and is liquidating another due to new U.S. regulatory restrictions on making bets with its own money, the investment bank said in its annual filing with regulators Tuesday. The U.S. Dodd-Frank financial...
Goldman Liquidates Two Proprietary Trading Desks
136
2011-31-01
Tuesday, 01 March 2011 09:31 AM
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