SEC's internal watchdog investigates timing of Goldman subprime fraud case settlement

SEC’s internal watchdog investigates timing of Goldman subprime fraud case settlement

SEC’s internal watchdog investigates timing of Goldman subprime fraud case settlement

The US financial regulator’s own internal watchdog has widened his investigation of the civil fraud lawsuit brought against Goldman Sachs to include a focus on the timing of last week’s $550m (£356m) settlement.

By James Quinn
Published: 6:00AM BST 24 Jul 2010

David Kotz, inspector general of the Securities and Exchange Commission, has said he is looking into the timing of Goldman’s settlement with the regulator, coming as it did on the same day that the US passed its wide-ranging financial reform bill.

Mr Kotz’s investigation to date has focused on whether politics played a part in the SEC bringing the case against Goldman in the first place.

Continue here…Telegraph

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