UK FSA announces own conflict-of-interest rules for banks

“In London we have been spared the worst of the abusive practices seen on Wall Street,” said FSA head Howard Davies, in a statement. “But we have found evidence of systemic bias in analyst recommendations, and of bad management of conflicts of interest.” The paper’s focus is on banks putting controls in place to prevent conflicts-of-interest. For example, it mandates that firms have systems and controls in place to ensure that firm interests don’t improperly influence the content of research

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