GS Fined $30.9 million By FSA

Goldman Sachs (NYSE: GS) has been fined £20 million ($30.9 million) by the Financial Services Authority (FSA), following an investigation into the US investment bank’s international business.

GS failed to tell the UK watchdog that one of its staff members in the UK was facing fraud charges by the Securities and Exchange Commission in New York. Goldman Sachs has admitted to the mistake and has agreed to pay the fine, which represents among the highest fines levied by the UK regulator.

The FSA began an investigation into GS in April after the SEC charged Goldman with civil fraud for misleading investors in a mortgage-backed security known as Abacus.