NEW YORK (TheStreet) -- The Federal Reserve board is charging Goldman Sachs (GS) - Get Report a $36.3 million civil penalty for unauthorized use and disclosure of a confidential supervisory piece of information, CNBC's Eamon Javers reported on "Squawk Alley" Wednesday.

The Fed ordered Goldman Sachs to implement an enhanced program to make sure a proper use of confidential supervisory information, Javers said citing a statement.

The legal action stems from an incident in 2014 with a former New York Fed employee that worked at Goldman Sachs, Javers noted.

The Fed is instituting enforcement proceedings against former Goldman Sach's managing director Joseph Jiampietro.

The Fed will seek a fine from Jiampietro and is looking to permanently bar him from the banking industry, due to the unauthorized use and disclosure of confidential information by him and his subordinates.

The information involved in the case remains confidential and is not revealed in any of the released documents by the Fed, but the information does involve "camels" ratings which are banking regulators' internal ratings of other banks, Javers added.

Jiampietro allegedly used this information in pitch meetings with clients and potential clients, Javers said.

Goldman Sachs stock is higher today. 

Separately, TheStreet Ratings team set this stock as a hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its increase in net income, attractive valuation levels and growth in earnings per share. However, as a counter to these strengths, TheStreet Ratings team also finds weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

You can view the full analysis from the report here: GS

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