Hong Kong’s markets watchdog fined Goldman Sachs’s Asian business $350 million for its role in Malaysia’s multi-billion dollar 1MDB scandal, the largest single fine ever levied by the regulator in the Asian financial hub.
The Securities and Futures Commission (SFC) said serious lapses and deficiencies in management controls at Goldman Sachs (Asia) L.L.C. had contributed to the misappropriation of $2.6 billion raised by the Malaysian sovereign wealth fund.
Leave a Reply