Woojae “Steve” Jung, a vice president of Goldman Sachs & Co. and an employee since 2012, was criminally charged by the Department of Justice with trading on nonpublic, confidential information of his employer related to pending mergers and acquisitions as well as corporate restructurings despite strict rules and training by his employer prohibiting such conduct. Mr. Jung allegedly traded in violation of law through an account that was impermissibly not disclosed to his employer in the name of a friend at a third-party broker. From 2015 through 2017 the account realized at least US $130,000 in profits. Mr. Jung was charged with one count of conspiracy to commit securities fraud and six counts of securities fraud. Separately, the Securities and Exchange Commission also charged Mr. Jung for securities law violations in connection with this purported activity.