SINGAPORE (Mar 15): Goldman Sachs Group was called on by Malaysia’s market regulator to defend its role in transactions involving troubled state fund 1MDB at the risk of administrative sanctions.

The Securities Commission sent a show-cause letter to the bank in December, asking Goldman to explain why such action shouldn’t be taken against the bank, the regulator said in a Friday statement. The commission has the power to impose administrative sanctions and undertake civil enforcement proceedings as well as criminal prosecutions, the statement added.

A spokesman for Goldman Sachs declined to comment.

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