UK Watchdog Fines Goldman $31M Over SEC Info

By Samuel Howard

Law360, New York (September 08, 2010, 7:33 PM ET) -- Financial regulators in the U.K. have reportedly slapped Goldman Sachs Group Inc. with a $31 million fine for withholding information about the U.S. Securities and Exchange Commission’s recent fraud investigation.

The Financial Services Authority handed down the fine — one of its heftiest on record — after Goldman Sachs failed to notify regulators that the SEC was investigating Fabrice Tourre, the trader largely responsible for creating the financial products at the heart of the fraud allegations, the BBC reported Wednesday.

Tourre moved from the U.S. to...
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