Goldman Being Probed by U.K. Regulator

The London subsidiary of Goldman Sachs 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.
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LONDON (

TheStreet

) --

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

fraud

in the firm's marketing of a subprime mortgage product.

-- Reported by Joseph Woelfel in New York.

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