A few years ago, regulators decided that professional investors needed protecting from the 'sharks of the City' and their potentially biased share tips, writes Richard Evans in The Daily Telegraph. They forced institutions to build 'Chinese walls' between research departments and brokers who sell equities, to prevent researchers being influenced to write favourable notes on companies doing business with their colleagues.
So, asks Evans, why are there not similar restrictions on firms who both sell funds to private investors and provide research on them?
Sure, unit trusts aren’t listed on the stock exchange and the research notes don’t include an [...]
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