• Latest
  • Trending
  • All

Federal Reserve Board fines the Goldman Sachs Group, Inc. $154 million for failure to maintain appropriate oversight, internal controls, and risk management with respect to 1Malaysia Development Berhad (1MDB)

October 22, 2020 20:27
Dollar lacks upside momentum due to lower Treasury yields

Currency markets muted ahead of jobs report

August 5, 2022 09:01
Stock markets rebound on strong corporate earnings

Markets look tepid ahead of NFP data

August 5, 2022 08:53
Dollar lacks upside momentum due to lower Treasury yields

USD bulls stay out of the game

August 4, 2022 08:31
Investor sentiment looks neutral at the start of the week

Risk sentiment turns positive, but caution persists

August 4, 2022 08:25
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists the selling pressure

August 3, 2022 11:01
Nancy Pelosi’s stomach-turning impeachment charade damages America

Risk tones keep tentative after Pelosi’s Taiwan visit

August 3, 2022 10:54
Dollar lacks upside momentum due to lower Treasury yields

Dollar trims losses but stays depressed

August 2, 2022 06:53
Markets hit by rising tensions between the United States and China

US-China tensions trigger risk-off trades across the markets

August 2, 2022 06:42
Dollar lacks upside momentum due to lower Treasury yields

Greenback remains on the back foot

August 1, 2022 06:36
Investors unsettled despite solid corporate earnings

Risk appetite looks tepid at the start of the week and the month

August 1, 2022 06:30
Dollar lacks upside momentum due to lower Treasury yields

Dollar set to trim losses further

July 29, 2022 06:37
Investor sentiment remains unstable amid geopolitical developments

Risk demand turns more measured ahead of the weekend

July 29, 2022 06:28
  • Terms & Сonditions
  • Contact
Tuesday, August 9, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

    Nancy Pelosi’s stomach-turning impeachment charade damages America

    Risk tones keep tentative after Pelosi’s Taiwan visit

    Markets hit by rising tensions between the United States and China

    US-China tensions trigger risk-off trades across the markets

    Investors unsettled despite solid corporate earnings

    Risk appetite looks tepid at the start of the week and the month

    Investor sentiment remains unstable amid geopolitical developments

    Risk demand turns more measured ahead of the weekend

    Risk sentiment keeps deteriorating, dollar climbs

    Fed-induced rally fades, dollar steadies

    Investors stay nervous as tensions escalate

    Investors cautiously optimistic ahead of FOMC verdict

    Equity markets mixed ahead of the weekend

    Markets mixed as Fed meeting looms

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

    Nancy Pelosi’s stomach-turning impeachment charade damages America

    Risk tones keep tentative after Pelosi’s Taiwan visit

    Markets hit by rising tensions between the United States and China

    US-China tensions trigger risk-off trades across the markets

    Investors unsettled despite solid corporate earnings

    Risk appetite looks tepid at the start of the week and the month

    Investor sentiment remains unstable amid geopolitical developments

    Risk demand turns more measured ahead of the weekend

    Risk sentiment keeps deteriorating, dollar climbs

    Fed-induced rally fades, dollar steadies

    Investors stay nervous as tensions escalate

    Investors cautiously optimistic ahead of FOMC verdict

    Equity markets mixed ahead of the weekend

    Markets mixed as Fed meeting looms

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Federal Reserve Board fines the Goldman Sachs Group, Inc. $154 million for failure to maintain appropriate oversight, internal controls, and risk management with respect to 1Malaysia Development Berhad (1MDB)

Federal Reserve Board fines the Goldman Sachs Group, Inc. $154 million for failure to maintain appropriate oversight, internal controls, and risk management with respect to 1Malaysia Development Berhad (1MDB)

by FWNews
October 22, 2020 20:27
in Rates
0

The Federal Reserve Board on Thursday announced it has fined the Goldman Sachs Group, Inc. $154 million for the firm’s failure to maintain appropriate oversight, internal controls, and risk management with respect to Goldman’s involvement in a far-reaching scheme to defraud a Malaysian state-owned investment and development company, 1Malaysia Development Berhad (1MDB).

In 2012 and 2013, Goldman arranged and underwrote three bond offerings that raised $6.5 billion for 1MDB. Certain former Goldman bankers in Asia participated in a scheme with Malaysian businessman Low Taek Jho and others to divert substantial portions of the proceeds from the 1MDB offerings for their personal benefit and to pay bribes to certain foreign government officials. Goldman’s transaction approval processes and internal controls failed to detect or prevent the scheme or to address obvious red flags around the 1MDB offerings. The Board is requiring Goldman to improve its risk management and oversight of significant and complex transactions, enhance its due diligence related to these transactions, and improve its anti-bribery compliance program.

The Board’s action is being taken in conjunction with actions by other authorities including the U.S. Department of Justice, the Securities and Exchange Commission, the New York Department of Financial Services, the U.K. Financial Conduct Authority, and the Bank of England Prudential Regulation Authority, and other foreign authorities. The penalties and disgorgement announced by all of the agencies total approximately $2.9 billion.

The Board has previously prohibited from banking three former Goldman employees in connection with the 1MDB offerings. In March 2019, the Board prohibited former Goldman employees Tim Leissner and Roger Ng for their roles in the scheme to divert bond proceeds. Leissner was also fined $1.42 million. In January 2020, the Board also prohibited former Goldman employee Andrea Vella for unsafe and unsound practices in connection with the bond offerings.

Share2Tweet1
ADVERTISEMENT
FWNews

FWNews

Track the pulse of the market

Related Posts

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currency markets muted ahead of jobs report

August 5, 2022 09:01
16
Stock markets rebound on strong corporate earnings
Fundamental analysis

Markets look tepid ahead of NFP data

August 5, 2022 08:53
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD bulls stay out of the game

August 4, 2022 08:31
16
Investor sentiment looks neutral at the start of the week
Fundamental analysis

Risk sentiment turns positive, but caution persists

August 4, 2022 08:25
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar resists the selling pressure

August 3, 2022 11:01
20
Nancy Pelosi’s stomach-turning impeachment charade damages America
Fundamental analysis

Risk tones keep tentative after Pelosi’s Taiwan visit

August 3, 2022 10:54
19

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

The International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s

Investor sentiment turns sour, dollar bulls back in the game

April 15, 2020 09:31
21
Pound corrects higher due to dollar weakness

Dollar erases early losses but looks mixed

October 25, 2021 13:26
18
Stocks mostly lower amid rising bond yields

Stocks mostly lower as worries persist

October 6, 2021 08:06
15

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews