The financial regulator in the UK has fined Goldman Sachs International $27 million for failing to notify authorities about an investigation in the United States.

In the second-largest fine ever imposed by the Financial Services Authority, Goldman Sachs was accused of not reporting that the US Securities and Exchange Commission had filed civil fraud charges against it for allegedly misleading buyers of complex mortgage-related investments in 2007.

The head of the FSA in the UK, Margaret Cole, said the penalty was levied to send a message particularly to the senior management of large institutions of the need to have their firm’s U.K. reporting obligations at the forefront of their minds.

Goldman failed to tell the FSA that the SEC had formally notified it and its London-based executive Fabrice Tourre that they were under investigation for allegedly orchestrating a mortgage-linked securities deal.

Tourre has denied any wrongdoing while Goldman Sachs agreed to a settlement with the SEC.