Fined: Goldman Sachs Fined by FINRA (November 2010)

Article - Media, Fined

Goldman Sachs to Pay $650,000 for Failing to Disclose Wells Notices

Nancy Condon, George Smaragdis, 9 November 2010

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Goldman, Sachs & Co. $650,000 for failing to disclose that two of its registered representatives, including Fabrice Tourre, had received formal notices from the Securities and Exchange Commission (SEC) that they were the subjects of investigations. Tourre’s “Wells Notice” was issued in connection with the SEC’s investigation of an offering of a synthetic collateralized debt obligation (CDO) called ABACUS 2007-ACI (Abacus).

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