Financial Regulatory Forum

U.S. Senate panel releases documents on credit raters’ role in Abacus, financial crisis

By Reuters Staff
April 23, 2010

The Senate Permanent Subcommittee on Investigations released a trove of internal messages and other exhibits from its look at the role credit-rating agencies played in the financial crisis, including several related to the Goldman Sachs Abacus trades at the heart of SEC fraud charges against the bank .  Reuters links to full file of exhibits.

Will Goldman Complaint Repair the Damage from Madoff Fiasco?

April 23, 2010

Some former government prosecutors are cheering the SEC’s case against Goldman Sachs. Some even called it a watershed event that might rehabilitate the SEC’s image, which has been tarnished in the fallout from the financial crisis and the failure to catch financial fraudsters like Bernard Madoff. Now all the SEC has to do is win its trial against Goldman, which is vowing to fight the charges, reports WG&L, from Thomson Reuters tax and accounting specialists. (more…)

Goldman CEO attacks SEC fraud charges – FT

April 22, 2010

    NEW YORK, April 21 (Reuters) – Goldman Sachs Group Inc <GS.N> Chief Executive Lloyd Blankfein attacked U.S. Securities and Exchange Commission fraud charges against the bank in phone calls to clients, the Financial Times said on Wednesday. (more…)

Paulson reassures clients on Goldman deal, no exits yet

April 21, 2010

FINANCIAL/   By Svea Herbst-Bayliss
   BOSTON, April 20 (Reuters) – Clients with Paulson & Co, which was involved in a mortgage deal that prompted civil fraud charges against Goldman Sachs <GS.N>, spoke with the manager on Monday, but so far no one has notified the firm of plans to leave his fund, several investors said. (more…)

BREAKINGVIEWS – How Goldman Sachs fell out with the SEC

By Reuters Staff
April 20, 2010

— The author is a Reuters Breakingviews columnist. The opinions expressed are his own —

Goldman Sachs profit tops forecast, UK opens probe

April 20, 2010

A security guard walks through Goldman Sachs lobby in New York   By Steve Eder and Steve Slater
   NEW YORK/LONDON, April 20 (Reuters) – Goldman Sachs Group Inc <GS.N> said first-quarter earnings nearly doubled, and Britain’s financial regulator launched a formal probe related to civil fraud allegations against the Wall Street bank. (more…)

UK launches formal probe into Goldman Sachs

April 20, 2010

   LONDON, April 20 (Reuters) – Britain’s financial regulator started a formal enforcement investigation into Goldman Sachs <GS.N> on Tuesday, four days after U.S. regulators filed a fraud case against Wall Street’s biggest investment bank. (more…)

BREAKINGVIEWS-How Goldman Sachs fell out with the SEC

April 20, 2010

   By Nicholas Dunbar — The author is a Reuters Breakingviews columnist. The opinions expressed are his own —
   LONDON, April 20 (Reuters Breakingviews) – In December 2000 I received an email from the Goldman Sachs <GS.N> press office in New York, nominating the firm for Risk magazine’s “Risk Manager of the Year” award. Central to the pitch was how the Wall Street bank had run a boot camp for its supervisors at the U.S. Securities and Exchange Commission, training them in concepts like value-at-risk and derivatives hedging. (more…)

SEC may have hard time finding other suits like Goldman

By Reuters Staff
April 19, 2010

By Matthew Goldstein

NEW YORK, April 19 (Reuters) The civil lawsuit filed by securities regulators against Goldman Sachs Group from the sale of a security linked to subprime mortgages may not open the floodgates for similar enforcement actions of its kind as some believe might happen.

ANALYSIS – US SEC’s new claws send shiver down Wall St

By Reuters Staff
April 19, 2010

By Dan Margolies and Rachelle Younglai

WASHINGTON, April 16 (Reuters) – The U.S. Securities and Exchange Commission’s fraud suit against Goldman Sachs sent a shiver down the spine of Wall Street, a sign the agency is determined to be an aggressive enforcer.