Wall Street giant Goldman Sachs enacted new rules on September 1st for all partners at the firm. The new rules don’t allow partners to donate to specific campaigns, including the Trump-Pence campaign.
Politico broke the news of the new rules.
The company states that the new rules are to ensure that Goldman Sachs is not accused of a pay-to-play operation. Goldman Sachs has been charged with a $12 million fine for a pay-to-play operation with the Massachusetts State Treasurer that included payments in an effort to influence the treasurer’s office, and resulted in Neil M.M. Morrison, VP of the company’s Boston office, purchasing an underwriting business.
The memo sent to all partners at the firm does not allow donations to any federal candidate that is a sitting state or local official. Trump’s campaign is directly mentioned in the memo as an example of a campaign which is not allowed under the new rules. Mike Pence is the Governor of Indiana and is running as Trump’s VP choice.
Clinton’s VP pick Tim Kaine is a US Senator, but he is not considered a local official under the new set of rules. Partners aren’t allowed to donate to the Virginia Democratic party. Kaine is a Virginia Senator.
Any violations to the company’s policy may result in disciplinary action.