NEW YORK CITY-Judge Barbara Jones of the US District Court has approved the $550 million settlement between the US Securities and Exchange Commission and Goldman Sachs. The settlement is with regard to the fraud related to sub-prime mortgage related securities.
The settlement also states that all employees in the mortgage department of Goldman Sachs will have to undertake a Federal securities law training annually. However, the SEC will continue its lawsuit against Fabrice Tourre, Goldman Sachs' VP allegedly responsible for the fraud. For the full story, go to Reuters.
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