Bosses in Rush to Meet Share-Pledge Deadline ; Governance

Summary

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THE flood of top company bosses confessing they have pledged shares to third parties to raise private funds continued as today's deadline on the "come clean" amnesty loomed.

The Financial Services Authority this month ordered a clean-up of the grey area of bosses pledging shares in their company. The issue was provoked after the storm at Carphone Warehouse that cost chairman David Ross his job and raised questions over what would happen to his 20% stake in the company.

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Bosses in Rush to Meet Share-Pledge Deadline ; Governance

Despite fears over outside parties having effective control over the such pledged shares ...

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