Toxic mortgage product sales fine gets Goldman Sachs off

Goldman Sachs has agreed to pay $550m to settle charges over the sale of mortgage products, including $100m to Royal Bank of Scotland, Reuters reports

Goldman acknowledged that its marketing of Abacus 2007-AC1, a synthetic collateralised debt obligation (CDO), was flawed. The bank agreed to change its procedures.

The Securities and Exchange Commission brought the securities fraud charges, but the fine was lower than the $1bn suggested. Goldman’s shares made up more than the fine.

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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