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US fallout on UK analysts
by Compliance Monitor and the Deloitte & Touche Regulatory Consulting Practice
Are UK investment analysts little more than the salesmen for corporate finance arms of investment banks that some of their
US colleagues have proved? Howard Davies, FSA chairman and consummate diplomat, did not go that far in his comments on the
publication of CP171 “Conflicts of interest: investment research and issues of securities” last month “but we have found evidence
of systematic bias in analyst recommendations, and of bad management of conflicts of interest,” he admitted.