Smaller fines not sign of weakness: Goldman

The far smaller penalties handed out to financial firms in Asia than in the UK and US should not be taken as a sign of weakness, said a Goldman Sachs executive at a recent forum. On the contrary, the likes of Hong Kong are taking a tough line on issues such as money laundering, he noted. “We don’t see huge fines here in Asia, [but] you shouldn’t form the opinion that perhaps the Asian regulators are not tough,” said Steve Tarrant, Asia-Pacific deputy head for compliance surveillan…