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Goldman Sachs warns traders: No ‘manipulation,’ social media or spreading rumours amid GameStop frenzy

A trader said staff are interpreting the memo as a caution about the GameStop market frenzy that has rattled some funds while triggering investors to reposition their portfolios

By

Trista Kelley

and

Lucy McNulty

A trader at Goldman in London told FN that the memo was interpreted, especially among equities desks, as a warning about the GameStop saga
A trader at Goldman in London told FN that the memo was interpreted, especially among equities desks, as a warning about the GameStop saga Photo: Getty Images

As the GameStop mania continues to spill over into global markets, Goldman Sachs sent a stern memo to trading staff warning them of the bank’s compliance policies.

“In light of recent market conditions, including elevated volumes and volatility, and potential impact to our clients and their performance, please take note of the important reminders below,” the firm’s compliance team wrote to markets desks in a 28 January memo, which was seen by Financial News.

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