News Snapshot:
[Business News] China to set up firewall between bankers, analysts in IPO deals – paper By Reuters SHANGHAI (Reuters) – China’s securities association has drafted rules to set up a firewall between investment bankers and analysts in deals to ensure unbiased pricing of initial public offerings (IPOs), the official Shanghai Securities News reported on Tuesday. Bankers in an IPO deal are barred from discussing profit forecasts and valuations with analysts, who should make conclusions independently, the newspaper said, citing rules drafted by the Securities Association of China. Brokerages should also regularly check on their internal firewall systems, according to the...
