Tuesday, December 27, 2005

Japan FSA orders Goldman to improve practices


Japan's financial services watchdog said on Tuesday it had ordered Goldman Sachs Asset Management to improve its business practices.

The Financial Services Agency said a customer's assets being managed by Goldman under discretionary investment agreements were intentionally transferred to another customer's accounts, adversely affecting one customer for the benefit of another.

See full Article (paid subscription required).

Also see FSA Press Release.