15 MAR 2021

Code of Business Conduct and Ethics

Our Integrity Is Integral

The success of the firm is determined not solely by the deals we make or clients we acquire, but also by the everyday actions and behaviors of our most critical asset: our people.

That’s why we’ve designed a Code of Conduct to empower our people to show up for the firm, our clients, and each other with integrity – and, as a result, continue to drive the business forward.

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Our Core Values

Our core values, which capture the spirit of our 14 Business Principles, combine over 150 years of experience, resulting in actionable practices that inform our decision-making every day. 

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Our People

Our people set Goldman Sachs apart. The firm’s success relies on our ability to create a safe, inclusive, and respectful workplace where everyone is empowered to grow and excel.

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Our Firm

We apply the highest ethical standards to our work. Our reputation, and the future of the firm, rely on our collective commitment to creating value and driving results honestly and with integrity.

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Our Clients

Our clients’ interests always come first. We protect their privacy and take pride in the fact that they choose to do business with us.

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Our Communities

The work we do at Goldman Sachs affects the world beyond our walls. Our actions, both as a collective and as individuals, have the power to impact our firm’s reputation and our communities’ prosperity.

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Effective March 15, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved amendments to revise and relaunch the firm’s Code of Business Conduct and Ethics to better reinforce our core values and emphasize what we expect from our people. To this end, the amended Code reflects our ongoing commitments to the highest standards of partnership, client service, integrity and excellence, and clarifies existing obligations under the Code by providing clear direction and practical information to further empower our people to treat our clients and each other with honesty and integrity, avoid conflicts of interest, treat customers fairly, maintain accurate and complete records, comply with applicable laws and regulations, and escalate concerns.