UK Competition Agency To Probe Underwriting Fees

Law360, New York (June 10, 2010, 10:55 AM EDT) -- The U.K. Office of Fair Trading announced Thursday an investigation into the market for equity underwriting and associated services, asking for public comments on the scope of the probe.

The competition watchdog said it had held informal talks with major companies that have raised equity capital in the U.K. and found “some dissatisfaction” with underwriting services. In 2009, companies raised about £70 billion ($102.6 billion) through equity offerings in the U.K., for which they paid about £2 billion in underwriting and related fees, according to the...
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