Friday, 31 October 2014
Last updated 1 hour ago
Sep 9 2010 | 2:14pm ET
Goldman Sachs has been fined £17.5 million for failing to notify British regulators about a U.S. probe that led to a US$550 million settlement.
The Financial Services Authority levied the fine today. Fabrice Tourre, the Goldman executive accused by the SEC of orchestrating the collateralized debt obligation deal at the heart of the U.S. fraud case against the firm, is based in London. Goldman was accused of misleading investors in the CDO, which was allegedly structured and marketed on behalf of hedge fund Paulson & Co.
“Goldman Sachs International did no set out to hide anything, but its defective systems and controls meant that the level and quality of its communications fell far below what we expect of an authorized firm,” Margaret Cole, head of the FSA, said.
Goldman said it was happy to resolve the matter.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.