News Snapshot:
SHANGHAI : 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 rules, which were distributed to brokerages for their opinions, the newspaper said. Such rules will prevent distortion of...
