Goldman Sachs does not agree with the Securities and Exchange Commission (SEC) on certain facts related to the allegations of misleading investors leveled against it, the firm’s chief executive officer has claimed.
Lloyd Blankfein, Goldman Sachs chief executive officer (CEO), made the comments in an interview with the Economic Times of India.
He said that the investment bank enjoys a “good†relationship with the SEC and appreciates its role in the financial services industry.
However, “to put it in perspective, we are at odds with the SEC on a specific transaction involving two institutional investors, over a
very narrow fact pattern,†Mr Blankfein explained.
He added: “On this particular issue, we have a disagreement on certain facts, and how the laws are applied, and we will try to resolve
this issue as soon as possible.â€
The SEC has accused Goldman Sachs of deliberately misleading investors by omitting details surrounding investment products related to subprime mortgages.
Newspaper reports have claimed that the investment bank may pay up to $1 billion to settle the case with the industry regulator outside of court.
By Jim Ottewill
Lloyd Blankfein, Goldman Sachs chief executive officer (CEO), made the comments in an interview with the Economic Times of India.
He said that the investment bank enjoys a “good†relationship with the SEC and appreciates its role in the financial services industry.
However, “to put it in perspective, we are at odds with the SEC on a specific transaction involving two institutional investors, over a
very narrow fact pattern,†Mr Blankfein explained.
He added: “On this particular issue, we have a disagreement on certain facts, and how the laws are applied, and we will try to resolve
this issue as soon as possible.â€
The SEC has accused Goldman Sachs of deliberately misleading investors by omitting details surrounding investment products related to subprime mortgages.
Newspaper reports have claimed that the investment bank may pay up to $1 billion to settle the case with the industry regulator outside of court.
By Jim Ottewill
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