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Goldman Sachs’s stock pares gains on report of SEC probe into purchase of securities from Silicon Valley Bank

Goldman Sachs Group Inc.’s stock fell back Thursday after bigger gains earlier in the session after the Wall Street Journal reported that the Securities and Exchange Commission is investigating the role of the bank in buying securities from Silicon Valley Bank prior to that bank’s collapse in March.

A spokesperson for Goldman Sachs said the bank had urged Silicon Valley Bank to hire an outside adviser regarding a proposed sale of securities to cover a sudden drop in deposits at the bank in early March.

Goldman…

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