Investment Banks Should Lower Underwriting Fees: UK

Law360, New York (January 27, 2011, 4:28 PM EST) -- Britain's Office of Fair Trading said Thursday that institutional investors and companies seeking to raise equity should push investment banks to lower underwriting fees, but declined to refer the fees to the country's top competition regulator.

In its equity underwriting market study, the OFT found that the market for equity underwriting and associated services lacked effective price competition, but chose not to make a market investigation reference to the Competition Commission, saying it would be inappropriate.

“An efficient equity capital market is vital for the long-term...
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