Goldman Sachs fined $650,000 for not disclosing Wells Notices

This is how Wall Street rewards the illegal activities of it’s own: Goldman Sachs was fined $650,000 for not disclosing two Wells Notices served upon two if it’s representatives, one of which was Fabrice Tourre.

A Wells Notice is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement action against them.

Wall Street reacted to the announcement by rewarding Goldman Sachs with a $0.13 raise in their stock.

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