Goldman Sachsto pay $2m

Goldman Sachs agreed to pay $2m to settle regulators’ allegations about its handling of four public offerings, including PetroChina $2.9b sale in 2000.

The Securities and Exchange Commission alleged Goldman, the number three US securities firm, sent emails to institutional investors with details of the PetroChina offering before the IPO had clearance from the agency.

PetroChina, based in Beijing, is China’s biggest oil producer.

“If you’re sending out detailed e-mails about planned offerings to some customers, then there are other people out there who don’t have that information” said Paul Berger, the SEC lawyer who handled the investigation.