Goldman Sachs Fined $126 Million by U.K. Watchdogs for 1MDB Role

Goldman Sachs Group Inc. will pay $126 million in U.K. penalties for its role in the 1MDB scandal, drawing a line under a years-long investigation into the bank’s involvement with the Malaysian investment fund.

The Financial Conduct Authority and Prudential Regulation Authority said Thursday their fines were part of the $2.9 billion globally-coordinated resolution reached with the bank.

“When confronted with allegations of bribery and staff misconduct, the firm’s mishandling allowed severe misconduct to go unaddressed,” said Mark Steward, FCA executive director of enforcement and market oversight. “There is no amnesty for firms that tackle financial crime poorly.”

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