SFC HK fined Goldman Sachs Asia US 350 Million for its part in the 1MDB theft-Even more questions for ASIC's James Shipton; questions also for those who selected and appointed him ASIC head despite his Goldman-1MDB baggage
by Ganesh Sahathevan PHOTO: ASIC's new chair, James Shipton (Supplied: Harvard University) Australia appoints Goldman man who oversaw 1MDB deals head of corporate regulator ASIC: James Shipton looked the other way to allow Goldman to profit from the 1MDB theft Goldman Sachs Malaysian subsidiary has admitted guilt with regards the 1MDB matter in Malaysia, while Goldman itself has agreed to pay a USD 2 Billion penalty with regards its part in the 1MDB theft. The offences concern breaches of the US Foreign Corrupt Practices Act (FCPA). Goldman has also paid hundreds of millions in fines in Singapore and Hong Kong with regards the 1MDB matter. The Securities and Futures Commission (SFC) Hong Kong reprimanded and fined Goldman Sachs (Asia) L.L.C. (Goldman Sachs Asia) US$350 million (HK$2.71 billion) for serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls that contributed...