Goldman Vows to Boost Disclosure, Avoid Conflicts
NEW YORK (Reuters) - Goldman Sachs Group Inc, responding to pressure from shareholders, regulators and clients, said it will disclose more information about how it makes money, bolster internal compliance and seek to avoid conflicts of interest.The investment bank released a 63-page report on Tuesday that details 39 plans for how it will change after years of investor accusations that its financial statements are opaque and client complaints about conflicts of interest.The internal review was kicked off after Goldman was accused by U.S. securities regulators of creating and selling collateralized debt obligations linked to subprime mortgages without telling investors that hedge fund …
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: Goldman Vows to Boost Disclosure, Avoid Conflicts. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: January 11, 2011. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2011 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.