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Goldman’s London arm fined £97m for 1MDB work

Banks agrees co-ordinated deal with regulators to pay fines totalling $2.9bn

UK regulators have fined Goldman Sachs's London arm £96.6m for "risk management failures" relating to its work with Malaysia's sovereign wealth fund 1MDB.

The UK fine is part of a global regulatory settlement between the US bank and authorities that compels Goldman to pay total penalties of $2.9bn.

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