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The chief executive of Goldman Sachs is to tell a US Senate hearing that the firm did not mislead clients and could not survive without their trust.Lloyd Blankfein will also say that the day he learned that regulators were filing fraud charges against Goldman was the worst of his professional life.
The comments come in a submission ahead of the hearing on Tuesday at which several Goldman executives will appear.
Goldman has vigorously denied it misled clients in a subprime mortgage deal.
Mr Blankfein made the remarks in a written testimony ahead of his appearance before the Senate Permanent Sub-committee on Investigations.
Conflict of interest
On 16 April, the Securities and Exchange Commission (SEC) filed civil fraud charges against Goldman and one of its executives alleging they failed to disclose a conflict of interest.
The SEC claims that Goldman arranged mortgage investments without telling clients that the portfolio was put together with help from a hedge fund that was betting on them to fail.
Goldman, arguably the world's most prestigious investment bank, rejects the charges as wrong in "fact and law".
At the hearing, Mr Blankfein will repeat the firm's argument that it lost $1.2bn (£776,000) in the housing mortgage market during 2007 and 2008.
"If our clients believe [the charges] we don't deserve their trust, we cannot survive," Mr Blankfein says in the prepared remarks.
He also acknowledges that "we have to do a better job of striking the balance between what an informed client believes is important to his or her investing goals and what the public believes is overly complex and risky."This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.