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Goldman Sachs Gets U.K. Approval to Operate Bank Unit

Goldman Sachs Group Inc., the fifth-largest U.S. bank by assets, gained regulatory approval to run a branch of its commercial bank in the U.K.

Goldman Sachs Bank USA received the license on March 21, according to a filing with Britain’s Financial Conduct Authority. The branch will be able to accept deposits, advise on investments and arrange the safeguarding and administration of assets, according to the filing.