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(From Financial Director)
The Financial Service Authority (FSA) has rapped Marconi for failing to release price sensitive information that led to its shock profits warning in 2001. The telecoms company breached Listing Rules by not releasing revised performance figures earlier, which led to a 54% fall in its share price. The FSA cannot take further action against Marconi, as the regulator did not gain further powers to sanction breaches of listing rules until December 2001. www.fsa.gov.uk
Foreign-listed companies may start to join London's Alternative Investment Market (AIM) following the introduction of a fast-track admission process, says Grant Thornton Corporate Finance. Meanwhile The London Stock Exchange is looking to convince Dutch brokers to defect from pan-European exchange Euronext to the Sets electronic order ...