Goldman Sachs fined $350 million in Hong Kong

Hong Kong's Securities and Futures Commission has fined U.S.-based Goldman Sachs Group Inc. $350 million for its role in the now-defunct sovereign wealth fund 1Malaysia Development Berhad's bribery scandal, Livemint reports citing Agence France-Presse. The commission said that Goldman Sachs Asia showed serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls.

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