Lloyd Blankfein, chairman and chief executive of Goldman Sachs, has appeared in a video to introduce the recommendations made in a report today by the bank's Business Standards Committee, established last May. Click here to watch the video .

He said: " The resulting recommendations represent a fundamental re-commitment by Goldman Sachs to our clients, and the primacy of their interests; to reputational excellence associated with everything the firm does and to creating an even better institution"