Goldman Sachs Group in its annual regulatory filing has disclosed that regulators are probing the trading and allocation of its bond issues.
In a Securities and Exchange Commission (SEC) filing, the banking giant revealed that regulators are looking into its "allocations of and trading in fixed-income securities" as well as its financial advisory services.
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However, the bank did not elaborate on the nature of the probe, what fines it could face or what regulatory bodies are conducting the probe.
In a statement, Goldman said it is cooperating with all regulatory investigations and reviews that it listed in the filing.
Goldman also trimmed the upper end of its legal losses to US$3.6 billion. The bank had previously estimated that legal losses above reserves could reach US$4 billion.
According to a report by The Wall Street Journal the SEC is also probing Citigroup and other Wall Street banks apart from Goldman Sachs Group over allocation new corporate bond issues and whether they unfairly favor some investors over others.
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By GlobalData
