The FCA continues its war on anticompetitive practices during IPOs
The Financial Conduct Authority has published an interim report after carrying out an extensive market study on the UK’s corporate banking sector.
Its findings included a discovery of anti-competitive practices in the IPO process. The FCA’s main concern was around the blackout period – the time between publication of a company’s prospectus and the research on the issuer’s information being made available to the other stakeholders carrying out the IPO. Other problems found included favouritism during share allocation and anti-competitive contracts that lock in clients during future transactions.
You can read the full report here: