Just after Goldman settled the SEC’s fraud charges in the US, the firm might now be facing a new fine for fraud in the UK.The FSA is expected to announce that they have fined Goldman and what amount they have fined the bank as soon as tomorrow, reports the FT, today.
UPDATE: BBC News says the FSA will charge Goldman £20m ($31m).
Apparently the UK’s version of the SEC will levy a fine on the bank for (allegedly) misleading investors in Europe in much the same way that the bank allegedly misled customers in the ABACUS deal.
From the Financial Times:
People familiar with the fine that will be levied on the bank by the FSA say that it is not based specifically on the Abacus transaction, but is the result of its investigation into the bank’s business practices in London sparked by the SEC allegations.