NEW YORK CITY-Judge Barbara Jones of the US District Court hasapproved the $550 million settlement between the US Securities andExchange Commission and Goldman Sachs. The settlement is withregard to the fraud related to sub-prime mortgage relatedsecurities.
The settlement also states that all employees in the mortgagedepartment of Goldman Sachs will have to undertake a Federalsecurities law training annually. However, the SEC will continueits lawsuit against Fabrice Tourre, Goldman Sachs' VP allegedlyresponsible for the fraud. For the full story, go toReuters.
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