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U.K. To Aid SEC On LIA Bribery Probes

U.K. prosecutors are assisting the U.S. Securities and Exchange Commission on sovereign wealth fund bribery probes.

U.K. prosecutors are assisting the U.S. Securities and Exchange Commission (SEC) on sovereign wealth fund bribery probes, The Wall Street Journal reports. The SEC is inquiring if Goldman Sachs and other financial firms might have violated the foreign bribery laws in dealings with the Libyan Investment Authority (LIA).

The regulators are investigating about a $50 million payment that Goldman initially agreed to make as part of a proposal by the New York company to help the LIA recover losses. Goldman is believed to have not paid the fee.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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