SEC says Goldman CDO fraud lawsuit ‘tough’

LONDON – The US Securities and Exchange Commission’s (SEC) collateralised debt obligation (CDO) fraud lawsuit against Goldman Sachs had been “from our perspective a pretty straightforward case”, according to Scott Friestad, deputy director of the SEC’s enforcement division. But since the civil case’s launch and its exhaustive legal and media coverage he said “it’s going to be tough”. Friestad was speaking at the SEC regulation outside the US conference on June 10 in London.

“We’re prepared to

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