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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Market

Goldman’s Libya fund deal lacked standard docs-WSJ

Posted on 27 June 2011

U.S. bank Goldman Sachs lacked the standard documents it needed to protect itself in a series of options trades it made for the Libyan Investment Authority in 2008, the Wall Street Journal reported on Saturday.
The contracts, which are standard for the industry when structuring international deals in murky markets such as credit default swaps, would have defined the exact terms of the relationship between Goldman and the sovereign wealth fund controlled by Colonel Muammar Gaddafi, the Journal said………………………………………..Full Article: Source


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