NY regulator wants info from Goldman, banks on Panama firm dealings - source
This article is a summary of reporting by Reuters. Originally published May 11, 2016.
The New York Department of Financial Services widened its inquiry into offshore tax compliance by requesting transaction and communication logs from major lenders including Goldman Sachs. The regulatory scrutiny followed disclosures from the Panama Papers database covering over 214,000 offshore entities. Authorities examined communications and transactions between New York bank branches, Mossack Fonseca personnel, and associated shell corporations to uncover potential regulatory violations.
AI Summary
New York banking regulators requested records from Goldman Sachs and other global banks regarding their dealings with Panamanian law firm Mossack Fonseca.
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