Goldman Sachs, Wall Street's biggest prime broker, has been fined by regulators for allegedly taking part in its customers' illegal trading scheme. The news comes a month after rival Bear Stearns was forced to pay $160m (€121m) for having a fraudulent hedge fund as a customer.

The Securities and Exchange Commission and NYSE levied a $2m fine against Goldman and its clearing affiliate, Goldman Sachs Execution and Clearing, for doing work for two hedge funds who made illegal stock sales starting in March 2000.