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.
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.
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.
WASHINGTON, April 19 (Reuters) – U.S. Representative Barney Frank said on Monday that securities regulators’ fraud case against Goldman Sachs <GS.N> increases the chance that financial reform will pass.
By Hugo Dixon and Richard Beales
LONDON/NEW YORK, April 19 (Reuters Breakingviews) – Were the investors who lost $1 billion by buying a fearfully complex product sold by Goldman Sachs <GS.N> in the dying days of the credit boom fools or victims? That’s the key distinction on which the U.S. Securities and Exchange Commission’s fraud charges, which roiled the investment bank when they were unveiled on Friday, hinge.
By Adrian Croft
LONDON, April 18 (Reuters) – Prime Minister Gordon Brown said on Sunday he wanted Britain’s financial watchdog to investigate U.S. bank Goldman Sachs <GS.N> after it was charged with fraud by U.S. regulators.
By John Kemp — John Kemp is a Reuters columnist. The views expressed are his own –
LONDON, April 16 (Reuters) – It is now virtually certain financial reform legislation will go sailing through the Senate, following the complaint filed against Goldman Sachs <GS.N> and an employee in the U.S. District Court for the Southern District of New York by the Securities and Exchange Commission this afternoon.
By John O’Donnell
BRUSSELS, April 13 (Reuters) – European finance ministers will attempt to settle differences over how best to impose extra taxes on banks at a meeting in Madrid this week, sources familiar with the talks said.
LONDON, April 13 (Reuters) – Britain’s financial regulator has fined and banned two former executives of Northern Rock, the troubled mortgage lender taken into state ownership two years ago, for misreporting mortgage arrears numbers.