Goldman Fined For Late FINRA Filings

Law360, New York (November 9, 2010, 6:31 PM EST) -- The Financial Industry Regulatory Authority announced Tuesday that it has fined Goldman Sachs & Co. $650,000 for failing to notify the agency that two of its representatives, including trader Fabrice Tourre, were under investigation by the U.S. Securities and Exchange Commission.

Goldman updated Tourre’s file six months late and two weeks after the SEC lodged its complaint against Goldman and Tourre over the Abacus 2007-AC1 collateralized debt obligation — when the filing would serve little purpose — according to a statement issued by the agency....
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