Hong Kong regulator fines Goldman Sachs US$350m over 1MDB scandal
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[HONG KONG] Hong Kong's financial regulator on Thursday announced it fined Goldman Sachs' Asia unit US$350 million over its role in the massive 1MDB Malaysian bribery scandal.
The city's Securities and Futures Commission (SFC) said the global financial titan had made "serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls".
The statement added that Goldman had accepted the SFC's findings, leading to an early resolution of the disciplinary action.
AFP
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