April 23, 2019 / 1:58 PM / a year ago

China's securities regulator settles internal control case with Goldman Sachs Asia

FILE PHOTO: A Goldman Sachs sign is displayed inside the company's post on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2017. REUTERS/Brendan McDermid

HONG KONG (Reuters) - China’s securities regulator said on Tuesday it has settled a case of internal control with Goldman Sachs (Asia) and Gao Hua Securities after the latter agreed to pay a settlement fee.

China Securities Regulatory Commission (CSRC) said traders from Goldman Sachs (Asia) and Gao Hua Securities conducted trades of shares and stock index futures that breached internal control regulations during October 2013 and July 2015.

Goldman Sachs (Asia) and Gao Hua Securities agreed to pay 150 million yuan ($22.31 million) to settle the case, CSRC said in a statement on its website.

Goldman Sachs (Asia) and Gao Hua Securities also agreed to enhance their internal governance as part of the settlement deal, CSRC said.

Reporting by Meg Shen and Twinnie Siu, editing by Louise Heavens

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