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UK fines Goldman Sachs £96.6 million in global action over 1MDB scandal

FILE PHOTO: A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange, April 16, 2012. REUTERS/Brendan McDermid/File Photo

LONDON (Reuters) - British regulators fined Goldman Sachs International 96.6 million pounds ($126 million) on Thursday as part of global action that will see the U.S. bank pay nearly $3 billion to settle a probe into its role in Malaysia’s 1MDB corruption scandal.

“There is no amnesty for firms that tackle financial crime poorly, and the size of GSI’s fine reflects that,” Mark Steward, executive director of enforcement and market oversight at Britain’s Financial Conduct Authority, said in a statement.

The settlement resolves a probe by U.S. authorities into the bank’s role in underwriting three bond offerings in 2012 and 2013 that raised $6.5 billion for Malaysia’s government.

Reporting by Andy Bruce and David Milliken; editing by Stephen Addison

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