01 · In plain English
What happened.
On 22 October 2020, the Financial Conduct Authority fined Goldman Sachs International £48,308,400.
Generated automatically from the action's type, date and amount. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the FCA register says.
On 22 October 2020, the FCA has fined Goldman Sachs International. The reason for this action is because Goldman Sachs International breached Principles 2 and 3 of the Authority’s Principles for Business arising from risk management failures connected to 1Malaysia Development Berhad (1MDB) and its role in three fund raising transactions for 1MDB between 1 February 2012 and 3 February 2016. As a consequence of this action, the FCA has imposed a fine of £48,308,400 . Goldman Sachs International agreed to resolve this matter and qualified for a 30% (stage 1) discount under the Authority’s executive settlement procedures. Were it not for this discount, the Authority would have imposed a financial penalty of £69,012,000. The FCA’s action took effect on 22 October 2020 and a copy of the Final Notice is displayed on the FCA's web site here:
03 · Firm details
Firm on the FCA register.
- Firm name
- Goldman Sachs International
- Firm reference number
- 142888
- Register status
- Authorised
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