UK

Analysts in the Spotlight in the UK: FSA focuses on independence

Joanna Gray, Senior Lecturer in Law. University of Strathclyde

Recent events in the corporate life of the United States, particularly the series of enforcement actions brought by the New York District Attorney’s Office against such household names as the Merrill Lynch group in respect of the quality of, and circumstances surrounding the issue of, certain pieces of investment research and recommendation have focused regulatory attention around the world on the role played by investment analysts in the efficient and fair functioning of securities markets.