Vella, Andrea
SFC fines Goldman Sachs (Asia) LLC US$350m over 1MDB scandal
| Statement of Disciplinary Action
SFC, 22-Oct-2020
The record fine, which goes to the HK Government, is about HK$364 for every person in HK. The SDA reveals that GS earned an average 9% on the bond issues, way above market rates, and nobody at GS seemed to think that was suspicious. Makes us wonder who was running the compliance department - but such persons are not SFC-licensed, so beyond the SFC's reach. The settlement doesn't suspend GS from carrying on its business in HK.
SFC, 22-Oct-2020
The record fine, which goes to the HK Government, is about HK$364 for every person in HK. The SDA reveals that GS earned an average 9% on the bond issues, way above market rates, and nobody at GS seemed to think that was suspicious. Makes us wonder who was running the compliance department - but such persons are not SFC-licensed, so beyond the SFC's reach. The settlement doesn't suspend GS from carrying on its business in HK.
US Federal Reserve Board permanently bars Mr Andrea Vella from banking industry
US Federal Reserve Board, 4-Feb-2020
US Federal Reserve Board, 4-Feb-2020
Malaysian financier Low Taek Jho & ex-banker Roger Ng Chong Hwa indicted for conspiring to launder US$ billions in illegal proceeds and to pay hundreds of millions of US$ in bribes in connection with 1MDB
US Department of Justice, 1-Nov-2018
The "New York-headquartered financial institution" is obviously Goldman Sachs.
US Department of Justice, 1-Nov-2018
The "New York-headquartered financial institution" is obviously Goldman Sachs.
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