Flotation prospectuses in the US are very poor at protecting investors, the UK's most senior financial regulator has said, reigniting the war of words between regulators on each side of the Atlantic as financial services business shifts from the US to the UK, reports The Times.
Sir Callum McCarthy, the chairman of the Financial Services Authority, told The Times that British standards were much higher. “IPO documents in the States are very poor, actually, in protecting investors,” he said, adding that they were far too long. “If you get lots and lots of data, you don’t necessarily get more information.” BARCLAYS CONFIRMED this morning that the governments of China and Singapore have both agreed to help finance an improved takeover offer for ABN Amro, reports The Guardian. It has raised its offer for the Dutch bank to €67.5bn (£45.4bn), with €24.8bn in cash and...
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