Goldman Sachs stock fell 5% on the stock market today. Goldman Sachs has been reprimanded by the Hong Kong regulator , the Securities and Futures Commission , after it breached takeover rules in a $ 5bn deal by publishing research and trading in the shares of a client it was advising . This marks the first public censure in Hong Kong of a large western bank for dealmaking , and will be seen as embarrassing for Goldman Sachs . The regulator said the bank 's conduct in the takeover of Wing Hang Bank , its client , by the OCBC " fell far short of the standards expected of a financial adviser " , adding that the " breaches suggest a significant breakdown in the compliance policies and procedures of the bank " .
Goldman Sachs has been reprimanded by the Hong Kong regulator , the Securities and Futures Commission , after it breached takeover rules in a $ 5bn deal by publishing research and trading in the shares of a client it was advising . This marks the first public censure in Hong Kong of a large western bank for dealmaking , and will be seen as embarrassing for Goldman Sachs . The regulator said the bank 's conduct in the takeover of Wing Hang Bank , its client , by the OCBC " fell far short of the standards expected of a financial adviser " , adding that the " breaches suggest a significant breakdown in the compliance policies and procedures of the bank " .