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11 January 2011 By Jeffrey Goldfarb Follow @jgfarb

The highly anticipated report from the firm’s Business Standards Committee will disappoint anyone who was expecting a new awakening. Its 39 recommendations mainly reaffirm earlier vows. But along with extra disclosure, it may be enough to strike a new balance with clients.

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Goldman Sachs' Business Standards Committee completed an eightmonth review of the company by publishing on Jan. 11 a 63page report with 39 recommendations. Among the proposed changes is greater financial disclosure, partly stemming from an internal reorganization from three divisions to four.

Goldman plans to report revenue generated from trading on behalf of clients separately from its own investments. It also plans to report extra balance sheet information. The committee further recommends changes related to conflicts of interest, the sale of structured products and committee governance.

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