Goldman Reported to Settle Charges with UK Regulator Involving Trader Tourre

The financial press is reporting that UK's Financial Services Authority (FSA) and Goldman Sachs have agreed to settle charges that Goldman failed to disclose that its trader Fabrice Tourre was under SEC investigation when he relocated from New York to London. Tourre, you will recall, is a defendant in a SEC enforcement action for his role in creating and selling a CDO. Goldman reportedly will pay 20 million pounds (about $30.9 million) and confess error.  The settlement is expected to be announced tomorrow.  This would be one of the largest fines imposed by the FSA, which does not have a reputation for aggressive enforcement.  WSJ, Goldman Sachs Hit With U.K. Fine