The Securities and Exchange Commission will not bring charges against Goldman Sachs (GS) after a five-month investigation into the offering of a $1.3 billion subprime mortgage deal in 2006.

The SEC sent a Wells notice to Goldman in February asking for disclosures made to investors in the deal. On Monday, however, the SEC notified staff at the investment banking giant that it would not be pursuing enforcement action, according to a financial filing made this week.

The statute of limitations is running out on filing grievances for many financial instruments tied to risky mortgages during the housing bubble.

Few of these investigations ever make it to trial. The SEC attempted to settle with Citigroup (C) for a fraction of investor losses in collateralized debt obligation put together by the bank. A judge struck down the agreement, and a jury ruled an ex-director at the bank was not liable for the CDO.

Goldman paid the SEC $550 million in July 2010 to settle claims of misleading investors in the ABACUS CDO put together by Fabrice Tourre.

Insurance firm ACA Financial Guaranty Corp. sued Goldman over the deal in January 2011, claiming fraud and seeking $120 million in damages. Goldman tried to dismiss the suit in April, but a court denied it. Goldman is appealing the decision.