Goldman Sachs reportedly announced to top employees last week a new set of rules that explicitly bans them from donating to the Trump-Pence campaign.
According to an email sent to “All Partners” of the firm, obtained by Fortune magazine, the rules officially kicked in Sept. 1 and prohibits partners from “engaging in political activities and/or making campaign contributions to candidates running for state and local offices, as well as sitting state and local officials running for federal office.”
The firm said the policy change is meant to prevent “inadvertently violating pay-to-play rules, particularly the look-back provision, when partners transition into roles covered by these rules.”
“The policy change is also meant to minimize potential reputational damage caused by any false perception that the firm is attempting to circumvent pay-to-play rules, particularly given partners’ seniority and visibility,” the memo said.
Donald Trump’s running mate, Mike Pence, is the current governor of Indiana, which means partners can’t contribute to the Trump-Pence ticket without violating the new rules. Goldman specifically mentions the Trump-Pence campaign in its memo.
“As a Restricted Person, you may not make any contributions or solicit in connection with [a]ny federal candidate who is a sitting state or local official (e.g., 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 read.
Hillary Clinton’s running mate, U.S. Sen. Tim Kaine, is not considered a state or local official under Goldman’s rules, making contributions to the Democratic presidential ticket permissible, according to Fortune.
The firm declined to provide comment to Fortune.
• Jessica Chasmar can be reached at jchasmar@washingtontimes.com.
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