Goldman Sachs settles with SEC
SEC says Goldman to pay record $550 million to settle CDO-related charges
- We'll be covering the SEC press conference on the settlement with Goldman Sachs live here shortly
- Goldman Sachs has agreed to pay a record $550 million to settle fraud charges brought by the Securities and Exchange Commission, the financial regulator said on Thursday. Full story: www.reuters.com
- Here's the full SEC judgment www.sec.gov
- SEC press conference is underway
- Goldman has agreed to tighten internal controls, SEC says
- SEC: we took into account that Goldman is assessing its practices to increase transparency
- Settlement is a stark reminder that there will be a heavy price to be paid if firms violate securities laws: full disclosure, fair treatment
- Goldman paying penalty of $535 million
- Record penalty reflect egregiousness of Goldman's conduct
- Half the money will be used to compensate investors. Rest goes to Treasury.
- Marketing materials supplied to CDO investors were misleading. Investors lots their full amount.
- Today, Goldman Sachs acknowledges its marketing material was incomplete, did not disclose Paulson's role in selecting investments
- "This is surely a massive win for Goldman," says Felix Salmon blogs.reuters.com
- SEC says timing of settlement unrelated to passage of financial regulation. Full coverage of regulation here: www.reuters.com
- "This is a very favorable outcome for investors," says analyst Bill Fitzpatrick. More reaction here: www.reuters.com
- That's the end of the SEC briefing.
- Stay with us for more Reuters coverage of the ruling
- Statement from Goldman says settlement is "right outcome"
- Goldman shares are up about 5 percent in after-hours trade
- Here's an interactive graphic explaining the Goldman charges www.reuters.com
- Interactive Goldman share price graph graphics.thomsonreuters.com
- Here's more from Felix Salmon: "Goldman agrees to carry on as usual" blogs.reuters.com
- Factbox: Details of the settlement www.reuters.com
- Thanks for joining our live coverage. Come back to Reuters.com for more coverage tonight and tomorrow www.reuters.com
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