Private equity supports FSA proposals
The private equity industry has backed the UK Financial Services Authority's proposal to tighten reporting requirements on banks and private equity houses, in order to reduce market abuse and conflicts of interest.
The industry also supported the FSA’s proposal to monitor banks’ exposures to leveraged buyouts on a bi-annual basis, and to compel private equity firms to report committed capital, as well as the existing requirement to report drawn-down capital.
The FSA published its original paper in November 2006, and industry participants were given until March 6 2007 to voice their opinion.
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