Only commercial banks are under the regulatory authority of the Fed. Until they converted to a bank holding company, Goldmann Sachs was not regulated by the Fed. As an "ivesemt bank" (which is not actually a bank at all), they were regulated by a mishmash of other authorities including the SEC and FTC. That was a major contributing factor to the financial crisis in the first place, and the reason Dodd-Frank expanded the authority of the Fed and FDIC to cover "systemically important financial institutions"--even if they are not banks.