SEC Wants $1M In Fines For Ex-Goldman Trader Tourre

Law360, New York (December 17, 2013, 12:38 PM EST) -- The U.S. Securities and Exchange Commission on Monday asked a New York federal judge to fine former Goldman Sachs Group Inc. trader Fabrice Tourre more than $1 million in fines and penalties for his participation in a scheme to mislead investors in a "built-to-fail" financial product.

The SEC said that Tourre, who was convicted in August on six counts of fraud in connection with a synthetic collateralized debt obligation he allegedly engineered to fail, should face a penalty of $910,000 for his "egregious" conduct, along with...
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