Let's see if Galvin comes under pressure from Obama's buddy Governor Deval Patrick. - ed.
William Galvin, Massachusetts’s chief financial regulator, has subpoenaed Wall Street firm Goldman Sachs Group Inc., demanding information on the firm’s weekly trading huddles between its research analysts and traders.
Mr. Galvin, the Massachusetts secretary of the commonwealth, said he is concerned that the huddles, in which Goldman’s research staff give verbal short-term stock tips to the firm’s traders and then its clients, disadvantage some Goldman customers.
“We have concerns about the research analysts and the efforts under way to use them to secure additional business,” Mr. Galvin said on Wednesday.
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