More disclosure for split trusts in future
A change in listing rules forcing companies dealing in split trusts to disclose more financial information has been revealed by the Financial Services Authority.
The FSA has a review of listing rules under way but an indication that changes for splits would be made came as Sir Howard Davies, chairman of the financial watchdog and his managing director John Tiner, answered questions before the Commons Treasury select committee.
Changes to rules will mean limiting the proportion of a company’s assets that can be invested in another fund.
The results of the FSA’s full review of listing rules is due some time in the new year.
During the hearing, which culminated in severe criticims of the FSA by MPs, Sir Howard revealed his annoyance with accountancy firms and consultancies that consistently targeted his staff for recruitment.