Goldman trader Fab removed from FSA register
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The bond trader at the centre of the Goldman Sachs fraud case has been removed from the FSA register.
The Telegraph reports that Fabrice Tourre was removed from the FSA’s register by Goldman Sachs after pressure was placed on the firm by the regulator.
Tourre is accused of being at the centre of the SEC investigation into Goldman Sachs which is looking into the alleged misselling of a complex parcel of toxic mortgages to the bank’s own clients while another client, hedge fund Paulson & Co, was shorting them. The FSA announced yesterday that it was investigating Goldman Sachs.
Tourre has been placed on extended leave after being charged by the US regulator the Securities and Exchange Commission, despite Goldmans clearing him of any wrongdoing. Goldmans has been charged with misleading its clients over the sale of a $1bn toxic derivatives parcel which is tied to the fall of the US housing market.
According to an FSA spokesman the removal of Tourre was “a matter for the firm.”
The news comes after Goldman Sachs unveiled bumper profits of £2.25bn in the first quarter of 2010.
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