James Carthew comments on Saba and Impax in James Crux’s article:
“The Impax story illustrates the damage that anyone with more money than sense can do to the investment companies sector if left unchecked.
“Appeals to reason appear to have failed. It is time for the FCA to act. Clarifying the related party rules, as Herald’s board has asked the FCA to do, would choke off Saba’s main line of attack – inserting directors it controls onto boards so that they can hand it the management contract.”
Read the article here