The Securities and Exchange Commission has dropped an
investigation into Goldman Sachs Group Inc's role in selling $1.3 billion worth
of subprime mortgage securities, the investment bank told Reuters.
In February Goldman received a so-called Wells notice from
SEC staff related to disclosures in the deal's offering documents. Such notices
typically indicate the agency plans to take some kind of enforcement action,
and give firms a chance to respond.
On Monday, the SEC notified Goldman that the investigation
had been closed and that it did not intend to recommend any enforcement action
against the bank related to the offering, Goldman said in its quarterly 10-Q
filing with the SEC….
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