MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 24, 2010 Fund Arm Could Complicate Goldman Settlement Talks What kind of settlement is Goldman Sachs likely to make with the Securities and Exchange Commission? Bloomberg Businessweek reports that whatever the fine the investment bank agrees to, it is likely to fight hard to keep the word "fraud" out of it. If the two sides cannot agree, they will likely end up in court. Picking up on a theme first reported in the MFWire.com two weeks ago (see "Dark Clouds Gather Over More Fund Firm's Parents, May 13, 2010), the magazine cites two unnamed sources as telling it that the negotiations between the SEC and Goldman are more likely to stall over the terms of the settlement than the fine itself. The concern is that a settlement that includes fraud would prevent Goldman Sachs and its employees from "managing investment companies registered with the SEC, unless the bank got an exemption from the agency." It adds that such a settlement would also hinder the bank from raising new cash quickly through the sale of new securities. Printed from: MFWire.com/story.asp?s=32300 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |