Goldman Sachs Nearly Done With Report on Business Practices and Ethics
Eight months after a Securities and Exchange Commission lawsuit raised tough questions about its business standards, Goldman Sachs is completing a report on its structure and practices intended to quell fears that its ethics have lapsed.
As part of its annual December board meeting, Goldman directors will review a draft version of the report this week, say people familiar with the matter. Because board members may suggest changes to the report, its details won’t be released to the public until January at the earliest, one of these people says.
Those hoping for big changes to the company’s organization and conduct may be disappointed, however. Some of the recommendations mentioned in the report, say people familiar with the matter, including the spin-out of Goldman’s proprietary-trading units, are already underway. Others include a suggestion that the firm improve its financial disclosure, said one of these people. » Read More on CNBC.com