The only US financial institutions in US which managed to make profit even during recession, Goldman Sach, has been imposed with a fine of £17.5 million fine. '

The same has been the put by the UK city regulator, FSA and it is one of the biggest fines that has been slapped by the regulator till now.

And the reason that has been cited by FSA is that Goldman had failed to tell in UK that an investigation has been going on in US while it was doing business in the European nation.

The charges were imposed after a five-month investigation and had originally started when the fraud charges were imposed on it in US.

In a statement the FSA said that it was the "weaknesses" that were present in the reporting system of Goldman Sachs that failed the regulator to be provided with appropriate information. It did not tell that its employee, Fabrice Tourre, was being investigated by the SEC of US. Tourre had moved from London to New York while the investigation was going on.

This has been termed as a financial crime.