It sounds shocking that Goldman failed to disclose important information to the FSA, but these are indeed shocking times. BBC:
Wall Street giant Goldman Sachs has been fined £20m ($31m) by the UK City regulator, the Financial Services Authority, the BBC has learned.
The fine is for failing to tell the FSA it was under investigation for fraud by the US financial watchdog this summer.
In July, Goldman settled the fraud charge with the Securities and Exchange Commission by paying $550m (£356m).
The £20m is one of the heaviest fines ever imposed by the FSA, said the BBC's business editor Robert Peston.
