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UK to investigate fraud claims at Goldman Sachs

Goldman Sachs is to be investigated by the Financial Services Authority following accusations of fraud by the US Securities and Exchange Commission.

The US financial watchdog has filed a civil suit against Goldman Sachs for structuring a sub-prime residential mortgage-backed secu-rity with hedge fund Paulson & Co, with the fund shorting the securities involved in the deal.

The SEC has alleged that Gold-man Sachs failed to tell investors that the transaction had been set up in this way. Goldman vice-president Fabrice Tourre was put on leave after the charges were filed. He has also been de-registered by the FSA and banned from holding a position in any regulated company.


L&G joins complex prime club with two-year fix

Legal & General Mortgage Club is the latest distributor to offer com-plex prime with the launch of a fixed rate mortgage with no credit score last week. The two-year fixed rate mortgage at 3.35% is being offered by Hanley Economic Building Society. It comes with a £100 booking fee and a £1,399 administration fee, and […]


Consumer focus on pensions is growing

Trying to write this piece without one eye on the electoral arena is tough. I was going to focus on each party’s pensions stance. However, not only would that be dull but such proposals are far from set in stone and could change after the election. There have been enough changes in policy over the […]

Frexit & contagion risk in Europe

Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune’s Rob Burnett discusses the likelihood of this happening. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide for future […]


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