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Fri 09 Sep 2010Goldman fined £17.5m for not reporting probe
BRITAIN’S FINANCIAL watch- dog fined Goldman Sachs Group £17.5 million (€21.25 million) for failing to tell the regulator that it was the subject of a US probe, reviving disclosure headaches for the Wall Street powerhouse.
The fine – the biggest ever imposed in Britain – stemmed from Goldman’s troubled Abacus mortgage-security product, which was the focus of an investigation by the US Securities and Exchange Commission (SEC).
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