FSA backs Marconi's share suspension last week

Howard Davies, chairman of the FSA, backed its decision to allow Marconi to suspend trading in its shares last week. The move had attracted considerable criticism from UK investors and especially US investors who returned from their Independence Day vacation on to find the shares had halved in value. Speaking at an Investor Relations Conference in London today, Davies reminded listed companies that they are obliged under the FSA's listing rules to make timely public disclosures of information that might have a substantial impact on their shares. Davies conceded, however, tha...