Goldman Sachs hit with £17.5m FSA fine


The financial watchdog said the fine related to GSI's failure to ensure that it had in place adequate systems and controls to enable it to comply with its UK regulatory reporting obligations. This resulted in a failure to notify the FSA of matters relating to the United States Securities and Exchange Commission (SEC) investigation into the Abacus 2007-AC1 synthetic collateralised debt obligation (Abacus).

The Abacus product was structured by GSI's US affiliate, Goldman Sachs & Co. (GSC), and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact

You are currently unable to copy this content. Please contact to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: