need to drive a horse and cart through pre-emption
The Rights Issue Review Group has published a report that
would make UK rights issues more efficient. But it could have
The group was set up in July this year and was co-chaired by
the UK Financial Services Authority (FSA) and the Treasury. It
delivered its report to the UK Chancellor of the Exchequer
earlier this week.
"This is a very sensible framework for correcting some of
the problems we have seen with rights issues this year. For
example, reducing the subscription period from 21 days to 14
days is a no-brainer," said Will Pearce, corporate partner at
Historically, due to the...