According to a report in Politico, high ranking employees have been banned from contributing money to certain campaigns including that of U.S. Republican presidential candidate Donald Trump by the US Investment bank Goldman Sachs.

Political restrictions have been expanded to partners of the firm by Goldman Sachs, the online politics magazine said Tuesday. An email that was sent down by the bank to its employees last week which clearly set out the bank’s rules on political activities was cited by the online magazine in its report.

“Effective Thursday, September 1, all partners across the firm are considered ‘restricted persons’ as defined by the firm’s Policy on Personal Political Activities in the U.S. As outlined below, restricted persons are prohibited from engaging in political activities and/or making campaign contributions to candidates running for state and local offices, as well as sitting state and local officials running for federal office,” the email from Goldman Sachs reportedly said, reported Politico.

The policy change was “meant to prevent inadvertently violating pay-to-play rules, particularly the look-back provision, when partners transition into roles covered by these rules. The penalties for failing to comply with these rules can be severe and include fines and a ban on the firm from doing business with government clients in a particular jurisdiction for a period of at least two years,” Goldman then reportedly went on to say, according to Politico.

According to the U.S. Securities and Exchange Commission, the idea or aim behind the pay-to-play schemes is to influence the awarding of lucrative public contracts and such schemes generally involve campaign contributions or other payments made by investment advisers to state and local government officials.

When contacted by several media for comments on the report in Politico, there was no response from Goldman Sachs.

A copy of a memo issued by Goldman Sachs in which the investment banker “specifically mentions the Trump-Pence campaign as an example of one Goldman partners can no longer support”, is claimed to be in possession of the business magazine Fortune  even though the email cited by Politico does not mention Trump’s name anywhere.

“Among the type of donations that are banned, according to the memo, are, ‘Any federal candidate who is a sitting state or local official (e.g., governor running for president or vice president, such as the Trump/Pence ticket, or mayor running for Congress), including their Political Action Committees (PACs)’,” Fortune added it its report Tuesday.

In addition to any donations to state officials who are seeking federal office, the banker’s rules ban donations to politicians running for state or local offices, Fortune also noted.

“That makes campaign contributions to the Trump-Pence ticket a no-no. Pence is the current governor of Indiana,” Fortune highlighted.

While vice presidential candidate Tim Kaine is a U.S. senator and wouldn’t be subject to the rules, Democratic presidential candidate Hillary Clinton currently doesn’t hold office.

(Adapted from CNBC)