Goldman’s new terms may as well say 'f@*k you' at the top, participant says

Goldman Sachs sends clients updated terms-of-dealing document signalling asymmetric last look is alive and kicking

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In focus: Goldman Sachs ups transparency in its new terms of dealing, but clarity could be surprising for some clients

US investment bank Goldman Sachs has published a new document outlining the bank’s terms of dealing with clients, with disclosure covering last look, pre-hedging, order and information handling, among other topics.

The document, sent to clients on March 23, has been described by market participants as “brutal”, with one saying it “really should say ‘f@*k you’ in capitals at the top”. Others noted that according to the bank’s disclosure, asymmetric last look is “still alive and kicking”, adding