Updated: HK regulator fines Goldman $350m for 1MDB failures

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By Jonathan Breen
22 Oct 2020

Hong Kong’s securities watchdog has fined Goldman Sachs $350m for regulatory failures in its work on bonds issued by the scandal-hit Malaysian state investment fund 1MDB, part of a multi-billion-dollar settlement with global regulators.

The Securities and Futures Commission announced on Thursday evening that it has reprimanded Goldman Sachs (Asia) for “serious lapses and deficiencies” in its management supervisory, risk, compliance and anti-money laundering controls, which “contributed to the misappropriation of $2.6bn from $6.5bn” that 1MDB raised in three bond issues in ...

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