Goldman Being Probed by U.K. Regulator
LONDON (
) --
Goldman Sachs'
(GS) - Get Report
London subsidiary will be investigated by the Financial Services Authority, Britain's financial regulator, after the U.S. filed a civil complaint against the Wall Street firm.
The FSA said Tuesday it would be working closely with the
Securities and Exchange Commission
in the U.S.
The FSA is likely to focus on the
Royal Bank of Scotland
(RBS) - Get Report
, which paid $841 million to Goldman Sachs in 2007 to unwind its position in a fund acquired in the takeover of Dutch Bank
ABN Amro
, the
Associated Press
reports.
Goldman on Friday was issued a civil complaint from the SEC alleging
in the firm's marketing of a subprime mortgage product.
-- Reported by Joseph Woelfel in New York.
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