The Consumer Panel has added its voice to the growing number of trade bodies and fund managers who are urging the Financial Services Authority not to apply lighter regulations to offshore companies wishing to seek LSE listings.
The FSA published proposals in October 2006 which would allow offshore firms to operate under reduced requirements compared with UK-based trusts under the minimum standards regime. Last week, the Association of Investment Companies (AIC) has been warning the proposals could be detrimental to consumer protection and create a scandal similar to that seen with the split capital investment trusts debacle. The Financial Services Consumer Panel has today joined in the debate by writing to the FSA and arguing proposals to amend the stock exchange listing rules for offshore investment companies t...
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