China to set up firewall between bankers, analysts in IPO deals -paper Headlines


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China to set up firewall between bankers, analysts in IPO deals -paper A company's valuation report is increasingly important under such an IPO system, but analysts have inadequate levels of independence in writing such reports, some of which are grossly inaccurate in their projections, the newspaper said, citing China's securities association. To avoid conflict of interest, investment bankers will be barred by the rules from discussing earnings estimates and valuations with analysts in an IPO deal, though they can communicate on the basics of the issuer in the presence of compliance officers, the paper said. - Country: - China China's...