According to reports in the UK media last week, the Financial Services Authority (FSA) is planning to significantly tighten the regulation of investment banks and other institutions which sponsor companies hoping to list on the Stock Exchange.
Under the proposed new regime, sponsors are likely to be obliged to provide signed documentation to the effect that the company is profitable and fit for flotation. Observers have suggested that given the likelihood that in-house lawyers will need to sign off on the paperwork, this development is likely to increase the role of in-house legal teams in the sponsorship process.
The FSA is also reported to be planning to undertake more monitoring and supervision visits to sponsors, paying for the creation of a dedicated oversight team by increasing sponsor fees.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment