Goldman Hit With SEC Notice

    Image #: 16580973    A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange, January 18, 2012. Goldman Sachs Group Inc's fourth-quarter profit fell 56 percent as trading and investment banking revenue plunged, but the bank managed to beat analysts' expectations through cost cutting and lower taxes. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS)       REUTERS /BRENDAN MCDERMID /LANDOV

    Brendan McDermid, Reuters / Landov

    We’re watching you: the Securities and Exchange Commission has issued notices to Goldman Sachs and Wells Fargo, the two banks disclosed in their annual reports Tuesday. The SEC is not obligated to issue the notices, but the move usually indicates that the regulatory agency intends to take action against the company. Both banks said they received the notices in regard to offering documents used in mortgage-backed investment deals. Disclosure is a top priority for the SEC, the agency’s enforcement director said at a conference in January. This month, Wells Fargo was one of five mortgage providers that reached a multibillion dollar settlement on government probes.

    Read it at The New York Times