Goldman: We're Cooperating in Fund Probe

February 24, 2004 ( - Goldman Sachs says it is cooperating with "various regulators including the SEC" who have asked for information about its mutual fund trading.

Goldman made the admission in a routine US Securities and Exchange Commission filing, according to news reports.

“While we believe that we have in place reasonable measures to detect and deter disruptive and abusive trading practices and comply with applicable legal and regulatory requirements, we cannot predict the course that the existing inquiries and areas of focus may take…” Goldman said in the filing.

New York Attorney General Eliot Spitzer last September launched a sweeping investigation of trading in the mutual fund industry, focusing on market timing and late trading. The SEC and authorities in numerous other states subsequently became involved in the probe.