FSA to investigate Goldman Sachs
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The Financial Services Authority has announced it is to start a formal enforcement investigation into Goldman Sachs International following fraud allegations from the US Securities and Exchange Commission.
It emerged last week that the US financial watchdog has filed a civil suit against Goldman Sachs for structuring a transaction with hedge fund Paulson & Co, with Paulson & Co shorting the securities involved in the deal.
The SEC has alleged that Goldman Sachs failed to tell investors that the transaction had been set up in this way.
The FSA says it will be liaising closely with the SEC in its own investigation.
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Readers' comments (3)
Anonymous | 20 Apr 2010 10:57 am
Lets face it, the enquiry / court costs will be 10x the sum of the actual fine.
These bankers need to be hit with big personal fines not corprate ones.
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Anonymous | 20 Apr 2010 11:43 am
O WELL well done fsa after the horse has bolted again, TCF!!! but at least your there to collect your tax O sorry fine
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Bobby | 20 Apr 2010 1:01 pm
Good old FSA. Behind the ball as always. They really are a JOKE orgnaisation. Self serving and totally useless.
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