Goldman warns of more investigations

By David Ellis, staff writer


NEW YORK (CNNMoney.com) -- Goldman Sachs provided a more detailed view of its legal troubles Monday, acknowledging it faces a series of government probes over some of its business dealings.

In its latest quarterly filing, Goldman disclosed that there are investigations from both Britain's Financial Services Authority as well as the independent U.S.-based Financial Industry Regulatory Authority, or FINRA, over the sale of mortgage-related investments.

Wall Street's top investment bank also revealed that it was subject to a number of investigations related to its work with Greece, after helping the now-embattled nation issue debt and conduct other complex financial transactions.

The latest disclosures build on revelations made by the company earlier this month in another regulatory filing.

Goldman said last week it was facing a half-dozen shareholder lawsuits over the now infamous Abacus transaction in 2007. In April. the Securities and Exchange Commission charged Goldman and one of its employees with fraud in the sale of that pool of securities tied to subprime mortgages.

The company reiterated Monday that its various legal troubles would not have "a material adverse effect" on its business, but added it remained vulnerable to additional legal action by shareholders.

One noteworthy addition to Monday's filing was the firm's view on the SEC case. It noted that the SEC's civil lawsuit did pose a threat of affecting its ability to act as a registered broker-dealer and in advising mutual funds.

Nonetheless, Goldman Sachs (GS, Fortune 500) shares gained nearly 3% in morning trading Monday as the broader market rallied on the news of the $1 trillion bailout package for Greece and other troubled European nations. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,804.71 -238.19 -1.40%
Nasdaq 4,422.09 -71.31 -1.59%
S&P 500 1,946.16 -26.13 -1.32%
Treasuries 2.40 -0.10 -4.19%
Data as of 3:08am ET
Company Price Change % Change
Bank of America Corp... 16.82 -0.23 -1.35%
Ford Motor Co 14.59 -0.20 -1.34%
Facebook Inc 76.55 -2.49 -3.15%
Apple Inc 99.18 -1.57 -1.56%
Cisco Systems Inc 25.03 -0.18 -0.72%
Data as of Oct 1

Sections

In the last five years, pumpkin sales have risen 34% as people demand pumpkin in everything from beer to beef jerky. More

Facebook's chief product officer issued an apology to Sister Roma and the drag community on Wednesday for its flawed 'real name' policy. More

New York City launches a comprehensive site for all things related to its digital tech scene, Digital.NYC. More

For these seniors, the best retirement is not to retire. From a 102-year-old Wal-Mart worker to an activist park ranger, these workers have stayed on the job well into their golden years. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.