Goldman Sachs Tells Employees They Cannot Donate To Trump Campaign - But No Restriction On Clinton's

One of America's biggest banks has actually told its high-ranking staff members they can not donate to Donald Trump - but has actually allowed them to contribute to the campaign of Hillary Clinton.

According to a memo that was circulated to personnel at Goldman Sachs, the bank said it had expanded its political constraints to partners at the company and noted those individuals it now thought about "limited".

" Effective Thursday, September 1, all partners across the firm are considered ‘restricted persons' as specified by the firm's Policy on Personal Political Activities in the US," stated the e-mails mentioned by Politico.

" As detailed below, restricted persons are forbidden from taking part in political activities and/or making project contributions to prospects running for state and regional offices, as well as sitting state and local authorities running for federal office."

The e-mail mentioned by Politico does not mention Mr Trump's name however the business publication Fortune stated it had actually acquired a copy of the memo where Goldman "specifically points out the Trump-Pence campaign as an example of one Goldman partners can no longer support".

" Amongst the type of donations that are banned, according to the memo, are, 'Any federal candidate who is a sitting state or local authorities (eg. governor running for president or vice president, such as the Trump/Pence ticket, or mayor running for Congress), including their Political Action Committees (PACs)," it stated.

The investment bank also went on to state that the policy change was "indicated to decrease potential reputational issue triggered by any incorrect understanding that the company was attempting to prevent pay-to-play guidelines, especially given partners' seniority and presence. All failures to pre-clear political activities as laid out below are taken seriously and offenses might lead to disciplinary action," according to Politico.

Pay-to-play plans involve project contributions or other payments made by investment advisers to state and city government authorities in an attempt to affect the awarding of lucrative public agreements, according to the United States Securities and Exchange Commission. Goldman Sachs was not readily available for remark.

Democratic presidential candidate Hillary Clinton presently does not hold office and vice presidential prospect Tim Kaine is a United States senator and wouldn't be subject to the guidelines.

The advancement is likely to seized on by the Trump project as more proof of Hillary's determination to take Wall Street money

Lloyd Blankfein, Goldman's CEO, has actually decreased to say who he is supporting for president, but is referred to as a veteran supporter of Ms Clinton. Mr Blankfein contributed to Ms Clinton when she ran against Barack Obama is 2008.

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