Hong Kong: Goldman Sachs fined US$350 million in Hong Kong over 1MDB

Global financial titan Goldman Sachs was fined US$350 million by Hong Kong’s securities watchdog on Thursday for its role in the massive 1MDB Malaysian bribery scandal, the latest in a growing list of global punishments the firm faces.

Goldman Sachs Asia — the Hong Kong-based compliance and control hub of the company — showed “serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls”, Hong Kong’s Securities and Futures Commission said.

The regulator added that Goldman had accepted the SFC’s findings, leading to an early resolution of the disciplinary action.

The original full article can be found at france24.com

(Photo: Free Malaysia Today)

 

Leave a Comment

Your email address will not be published.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

Scroll to Top