Goldman Sachs has asked the Financial Services Authority (FSA) to remove Frenchman Fabrice Tourre from their list of 'approved persons' who can work as a trader in the UK as the controversy around the bank spreads even as it reports bumper quarterly results. In the US, the Securities and Exchange Commission (SEC) has begun a probe into allegations that Goldman Sachs misled clients on a sub-prime investment deal. The FSA has found sufficient evidence to open its own formal probe into Goldman's activities, and will be gathering evidence from the bank, its clients and associates. Goldman used the announcement of better-than-expected net earnings of $3.5 billion in the first quarter to issue a forceful denial of...
Goldman Sachs: our side of the story
21st Apr 2010