IMA rejects calls for new rules for analysts

The Investment Management Association says it does not believe UK equities analysts have been compromised to the same extent as their US peers on the issue of stock recommendations in part because of a more sophisticated audience. Record fines are currently being handed out by US regulators to major investment banks whose analysts wrote falsely positive notes on companies in order to win investment banking business for their employers. The FSA is proposing to look into changing rules in the UK too, given the close links between Wall Street and the City. However, the IMA...