Goldman Sachs Group Inc. has banned all partners from making donations to certain political campaigns, including the Donald Trump presidential ticket, according to media reports. The investment bank last week sent out an email to its top employees, stating that all partners would be restricted from making campaign contributions to candidates running for state and local offices as well as for sitting officials running for federal office, according to Politico. “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 email said, Politico reported. “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,” it added. The Politico report didn’t cite Trump’s name, but a separate story in Fortune on Tuesday said the memo specifically mentioned the Trump-Pence campaign as an example of banned donations for Goldman Sachs employees. The new rules at Goldman don’t restrict contributions to Democratic presidential candidate Hillary Clinton, because she currently doesn’t hold office. A representative from Goldman Sachs wasn’t immediately available to comment on the reports.
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