Goldman Sachs may strengthen disclosures after conflicts in Kinder-El Paso deal

NEW YORK - Goldman Sachs said it is reviewing its policies and procedures on banker conflict issues.

The goal is to strengthen how Goldman reveals important potential conflicts of interest such as the personal stock holdings of its bankers, especially as they negotiate deals.

A judge in late February determined that gas pipeline giant Kinder Morgan's proposed purchase of El Paso, a gas production and pipeline company, was fraught with conflicts of interest.

Among them: Goldman's top energy banker was advising El Paso on the deal and held a stake in Kinder Morgan. Goldman was aware of the banker's stake, the El Paso board was not.

The revelation came as the former head of Goldman's derivatives business in Europe, the Middle East and Africa lambasted the firm's culture in a New York Times opinion piece.