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Goldman Sachs Fined $30.9 Million in UK: Report

9 September, 2010 - 16:30

LONDON - Goldman Sachs has been fined 20 million pounds ($30.9 million) by the UK's financial regulator for failing to disclose it was under fraud investigation by its U.S. counterpart, the BBC reported on Wednesday.

The Financial Services Authority (FSA) and Goldman Sachs declined to comment.

The FSA launched an investigation into the U.S. investment bank in April after the U.S. Securities and Exchange Commission charged Goldman with civil fraud for misleading investors in a mortgage-backed security known as Abacus.

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[Published in NonProfitNews - Read the original article]