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APAC

Goldman Sachs fined nearly $126 million in UK for 1MDB failings

FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

LONDON (Reuters) - U.S. banking giant Goldman Sachs has been fined 96.6 million pounds ($126.4 million) by British regulators for risk-management failures in connection with Malaysia’s 1MDB corruption scandal.

The Financial Conduct Authority and Prudential Regulation Authority said the fines are part of a $2.9 billion globally agreed penalty against the bank.

($1 = 0.7644 pounds)

Reporting by Iain Withers; Editing by David Goodman

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