Investment banks underwriting initial public offerings in Europe are preparing to face tighter legal standards intended to protect investors from the excesses of the dotcom boom ahead of an expected wave of listings in 2010.
Royal Bank of Scotland, which is set to become the single largest shareholder in Four Seasons Healthcare, has given up rights to influence the heavily-indebted UK care home operator.
When an institutional asset management firm in the US decides where to buy its equity research, a vote is taken in democratic Wall Street fashion - not just from the portfolio managers and analysts, but also the folks on the trading desk.
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