Investment banking giant Goldman Sachs has been fined £20 million ($31 million) by the UK’s Financial Services Authority (FSA). The fine comes after Goldman failed to inform the FSA it was under investigation for fraud by its US counterpart. The FSA and Goldman Sachs have declined to comment but according to the BBC, the multi-million [...]
US banking giant Goldman Sachs has today announced profits dived 82% in the second quarter to $453 million.
The figures represented the worst quarter since the height of the financial crisis – almost two years ago and were hit by the British bonus levy and a US fraud settlement.
Commenting, Lloyd Blankfein chief executive, said: “The market [...]
The Securities and Exchange Commission (SEC) has fined US banking giant Goldman Sachs $550 million (£356 million).
The fine, which represents the largest against a financial company in the SEC’s history, comes as Goldman agreed to settle civil fraud charges over how it marketed a sub-prime mortgage product.
The UK’s Royal Bank of Scotland (RBS), lost around [...]
Eight Wall Street banks are facing an investigation following allegations that they provided misleading information to several ratings agencies in order to gain a better rating for mortgage securities.
New York Attorney General, Andrew Cuomo, has launched the investigation and the banks under scrutiny are Goldman Sachs, Morgan Stanley, UBS AG, Citigroup, Credit Suisse, Deutsche [...]
The financial world was in shock over the weekend following the decision of the US Securities and Exchange Commission (SEC) to charge Goldman Sachs and one of its vice presidents with fraud.
The Wall Street bank allegedly sold investors down the river by “misstating and omitting key facts” about a financial product tied to US sub-prime [...]
Around 100 senior employees at Goldman Sachs in London are capping their 2009 pay and bonuses at £1 million each.
The move comes as part of the Chancellor’s super tax, which was introduced to claw back some of the bailout funds used to rescue the banking industry.
According to the BBC, the tax represents a considerable sacrifice [...]