The Financial Conduct Authority has published an interim report after carrying out an extensive market study on the UK’s corporate banking sector.

Its findings included a discovery of anti-competitive practices in the IPO process. The FCA’s main concern was around the blackout period – the time between publication of a company’s prospectus and the research on the issuer’s information being made available to the other stakeholders carrying out the IPO. Other problems found included favouritism during share allocation and anti-competitive contracts that lock in clients during future transactions.

You can read the full report here:
https://www.fca.org.uk/news/fca-publishes-interim-report-investment-corporate-banking-market-study-discussion-paper-ipo-process