Goldman Sachs is expected to be harshly criticised by an influential US Senate report into the financial crisis that will highlight alleged conflicts of interests in the Wall Street firm’s dealings with clients, the Financial Times said, citing unnamed sources.

Goldman Sachs yesterday released a list of internal changes that it hoped would help to draw a line under a recent controversy that surrounded its role in allegedly misleading investors over the sale of collateralised debt obligation securities.

As part of the reforms, Goldman revealed it had lost more than $15 billion on investments with its own capital in 2008 – a previously undisclosed figure that supports the bank’s contention that it did not profit from the financial meltdown, the newspaper report said.

But the FT added that the report from the Senate permanent subcommittee on investigations, which could be published by the end of the month, would renew pressure on Goldman by focusing on complex transactions similar to a deal involving a mortgage-linked security called Abacus.

Goldman declined to comment, the report said.

The Abacus deal prompted the Securities and Exchange Commission to pursue civil fraud charges that Goldman settled by paying a $550 million fine in July. Regulators alleged Goldman did not disclose to clients that a hedge fund eager to short the housing market had influenced the type of loans included in the security.

At the time the issue surfaced, this publication was told by people in the US wealth management industry that Goldman Sachs – which caters for ultra high net worth clients among its customers – might suffer some damage from the scandal. However, it is unclear whether that has turned out to be the case and in any event, Goldman Sachs recently announced it was significantly expanding its wealth arm.