Editorial: Is public censure enough?

Author: | Published: 10 Dec 2015

Here's a cheery Christmas quandary: would you rather be fined or publicly shamed? Back in November, the UK Takeover Panel publicly censured Credit Suisse, Freshfields Bruckhaus Deringer and Holman Fenwick Willan over the way they handled the 2010 creation of Bumi, a London-listed miner of Indonesian coal.

The panel found that they had failed to let the regulator know about links between two Indonesian coal miners that had in effect taken majority control of Vallar – the UK-listed company that later became Bumi. The panel called this failure a serious breach. So...