James Carthew comments on the need for action by the FCA in Lotte Edwards’ article:
‘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. It may also be time for corporate advisers to dust off the rule book and explore legal avenues to insert poison pill defences into investment company structures. I hate that idea, but sometimes it is a case of the lesser of two evils.’
Read the article here