While Goldman Sachs (GS) has settled Securities and Exchange Commission civil fraud charges over its Abacus synthetic collateralized debt obligation transaction with a $550 million fine, its dispute with the Financial Crisis Inquiry Commission is ongoing. The FCIC now says it’s considering sending in outside accountants to audit Goldman’s systems for data on its derivatives business, the reports.
The FCIC will not back down from demands for information that Goldman’s executives have maintained the company doesn’t track, FCIC Chairman Phil Angelides told the . He promised the commission would press Goldman hard.
The information the FCIC is seeking relates to Goldman’s derivatives trading revenue, but Goldman executives claim such data would be meaningless because it would only show one si...Read More