Hong Kong regulator fines Goldman Sachs US$350m over 1MDB scandal
[HONG KONG] Hong Kong's financial regulator on Thursday announced it fined Goldman Sachs' Asia unit US$350 million over its role in the massive 1MDB Malaysian bribery scandal.
The city's Securities and Futures Commission (SFC) said the global financial titan had made "serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls".
The statement added that Goldman had accepted the SFC's findings, leading to an early resolution of the disciplinary action.
AFP
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month