Reuters - Goldman says 1MDB probes may result in 'significant fines', BofA leaders take on bigger roles

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Government probes into Goldman Sachs’ dealings with the Malaysian sovereign wealth fund 1MDB may still result in “significant fines, penalties and other sanctions,” the Wall Street bank said in a regulatory filing on Friday.

Reuters reports that Goldman said it is cooperating with the U.S. Department of Justice and other regulators examining 1MDB matters in its quarterly financial filing.

In the meantime, the news agency also reports that Bank of America has given two of its executives additional European Union-related leadership roles as it prepares for Britain’s exit from the bloc, the U.S. bank said on Friday.

Luigi Rizzo, its head of investment banking in Europe, Middle East and Africa (EMEA), will take on additional duties as head of EU corporate and investment banking, BofA said.

Goldman says 1MDB dealings may still result in penalties - filing

Bank of America appoints top EU bankers ahead of Brexit

 

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