April 28, 2006
Uncategorized
Insurance Insider (subscription site) carries an article: UK regulator the Financial Services Authority (FSA) has fined Lloyd’s broker Besso £20,000 for failure to apply for approval of a member of its management who had previous fraud convictions and is alleged to have gone on to commit fraud whilst at the firm…. How many prospective employees are going to be chuffed by the idea of a police notice of good conduct to be available for inspection in connection with a job application as a financial advisor?
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April 28, 2006
General
It has made it so expensive for a public company that these companies that used to be able to go public with $20 million in revenues and growing, and things are going very well, are now in a position where they have to wait until they’re doing $100 million in revenues…. A lot of the entrepreneurs I’ve talked to who have very successful companies who are going to take them public are going to take them public on the London exchange, or the Singapore exchange, or the Hong Kong exchange, and not on NASDAQ or the New York Stock Exchange because the restrictions and [SOX] have just made it too difficult.
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