Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

A Member of the Law Professor Blogs Network

Wednesday, September 8, 2010

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

http://lawprofessors.typepad.com/securities/2010/09/goldman-reported-to-settle-charges-with-uk-regulator-involving-trader-tourre.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef0133f40160c1970b

Listed below are links to weblogs that reference Goldman Reported to Settle Charges with UK Regulator Involving Trader Tourre:

Comments

Post a comment