Investment banks face equity underwriting probe - papers

The Office of Fair Trading (OFT) has announced a probe into parts of the investment banking industry.

The investigation will focus on the prices which investment banks charge for services such as advising companies and underwriting share offers. The study will examine whether parts of the work done by investment banks may affect competition or consumers, writes the BBC. It will look at rights issues and other types of equity-raising by the 350 largest UK public companies. Firms whose UK business includes an investment banking arm include Royal Bank of Scotland, Barclays, Goldman Sachs, Morgan Stanley and Citigroup. FULL STORY...