Friday, July 24, 2009

So It Begins: The SEC Commences Investigation Into Goldman Sachs Trading Practices

From GATA:

United States Securities and Exchange Commission
Washington, D.C. 20549

July 20, 2009

Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
7 Villa Louisa Road
Manchester, Connecticut 06043-7541

Dear Mr. Powell:

Thank you for your letter of July 7, 2009, to Chairman Mary Schapiro of the U.S. Securities and Exchange Commission. Your letter has been referred to the SEC's Office of Investor Education and Advocacy for a response.

We are taking your complaint regarding Goldman Sachs and its proprietary software that may be used to manipulate the markets very seriously, and have referred it to the appropriate people within the SEC.

Please understand that the SEC conducts its investigations on a confidential basis and neither confirms nor denies the existence of an investigation unless we bring charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved. As a result, we will not be able to provide you with any future updates on the status of your complaint or of any pending SEC investigation.

I've attached a flyer that describes our policy as it will apply to your complaint. If you have any question, please contact Bonnie Dailey, an attorney on my staff, at 202-551-6364.


Gloria Smith-Hill
Branch Chief
Office of Investor Education and Advocacy

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