Goldman admits guilt in 1MDB

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Source: theedgemarkets.com

Goldman Sachs has been slapped with penalties in the US to the tune of $2.9bn, after pleading guilty to crimes linked with the 1MDB scandal. The bank will also claw back compensation worth $174m from both past and current executives as a result.

For some insight on whether this admission of guilt will actually affect Goldman Sachs, as well as thoughts on its effect on the ongoing 1MDB trial, BFM speaks to P Gunasegaram, editorial consultant for news portal The Vibes and author of the book 1MDB: The Scandal That Brought Down A Government.

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Hakimi Abdul Jabar
23 Oct 2020 1.01pm

THE STRINGENT NEED FOR A GLOBAL CAPITAL MARKETS REGULATORY, COMPLIANCE & ENFORCEMENT BODY

In 2015, the EU proposed an action plan on a capital markets union (European Commission (2015)). Thus, to ensure the regulatory integration of international capital markets conform to global standards, the proposed EU action plan should be taken up at the UN Secretariat level to ensure strict regulatory compliance & enforcement by agencies such as the WTO, IMF, World Bank etc. and the global sanction of the heaviest penalties imposed upon criminals abusing the capital markets. Taking the 1MDB Global Kleptocracy Scandal as a case study, Malaysians will provide strong support.