Basic Search  |  Summaries  |  Advanced Search

Violation Tracker UK Individual Case

Company: Goldman Sachs International
Current Parent CompanyGoldman Sachs
Parent at the Time of the Penalty Announcement: Goldman Sachs
Penalty: £48,308,400
Year: 2020
Date: 22 October, 2020
Offence Group: financial offences
Offence Type: risk management failure
Violation Description: The PRA said it took action in light of GSI's failings arising from its involvement as arranger, initial purchaser and underwriter in three bond transactions in 2012 and 2013 for 1Malaysia Development Berhad (1MDB), a strategic investment and development company wholly-owned by the Malaysian government. The PRA stated that GSI failed to assess and manage risk to the heightened standard that was required of it.
Action Type: agency action
Agency: Prudential Regulation Authority
HQ Country of Parent: United States
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data(click here)