The controversy over Goldman Sachs’s misprinted Hong Kong warrants has mostly blown over now that a majority of investors look like accepting the settlement offered, but in the aftermath the bank and the regulator must ask themselves some serious questions.
First, some background. On March 31 warrants linked to Japan’s Nikkei 225 index and sold by Goldman Sachs began to spike in value, because, it now seems likely, a single investor had noticed what proved to be a small but serious error in the settlement documents.
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