The Financial Services Authority published its 2010/11 annual report yesterday: see here (pdf). Today's newspapers focus on the reported measure of market cleanliness in respect of takeovers, i.e. the proportion of abnormal share price movements prior to the takeover announcement: 21.2%. Elsewhere the report stresses the significance of the change introduced at the start of the year with regard to the European regulatory architecture and the creation of the new European Supervisory Authorities: the fact that the FSA (and it successor bodies) have a policy influencing rather that policy making role.
Tuesday, 14 June 2011
UK: the FSA's 2010/11 annual report
The Financial Services Authority published its 2010/11 annual report yesterday: see here (pdf). Today's newspapers focus on the reported measure of market cleanliness in respect of takeovers, i.e. the proportion of abnormal share price movements prior to the takeover announcement: 21.2%. Elsewhere the report stresses the significance of the change introduced at the start of the year with regard to the European regulatory architecture and the creation of the new European Supervisory Authorities: the fact that the FSA (and it successor bodies) have a policy influencing rather that policy making role.
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