Government responds to Kay Review

The government endorses the ten principles for equity markets to which the Kay review. headed up by professor John Kay recommends market practitioners, government and regulatory authorities should have regard. However, following concerns about the meaning of the ‘fiduciary’ standards for participants in the equity chain, the government has clarified that particular principle and refers instead to those participants ‘acting in good faith, in the best long-term interests of their clients or beneficiaries and in line with generally prevailing standards of decent behaviour’.

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