Cold-Shouldering

Around this time last year the FSA sent out a ‘Dear Compliance Officer’ letter concerning the ‘cold-shouldering’ imposed on three individuals by the Panel on Takeovers and Mergers (see Regulatory Roundup 30).

This article is to remind firms that that the letter contained a request from the FSA: “We expect authorised firms to remind all approved persons at their firms about the ‘cold shouldering’ of Myerson, Padgett and Posen and of the provisions of MAR 4.3 at regular intervals for the three years that the Panel’s finding remains effective”.

Further details of the case, and of ‘cold-shouldering’, can be found in Regulatory Roundup 30.