Inside these posts: Abacus

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Brits hit Goldman with $27M nondisclosure fine

Britain’s financial watchdog fined Goldman Sachs Group Inc. 17.5 million pounds ($27 million) for failing to tell the regulator it was the subject of a U.S. probe, reviving disclosure headaches for the Wall Street powerhouse.

The fine — one of the biggest imposed in Britain — stemmed from Goldman’s troubled Abacus mortgage-security product, which was the focus of an investigation by the U.S. Securities and Exchange Commission. Get the full story »