The infant Third Market
Article Abstract:
A third securities market in London was founded in Jul 1987. The Third Market was intended to correct two deficiencies in unregulated, over-the-counter markets: restricted liquidity, and irresponsible stock introductions. Listing requirements are not strict, but rules governing sponsorship are. There must be at least two market-makers for each stock on the Third Market. The Third Market has not had the same degree of acceptance as the Unlisted Securities Market (USM). This may change as the quality of companies in the Third Market improves and the Third Market comes to be perceived as a specialist market, rather than a listing of weak companies. The advantages and disadvantages to listing on the Third Market are compared to those for the USM.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
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Professional indemnity insurance regulations
Article Abstract:
The International Federation of Accountants suggests in a statement from its Institute that accountants take on indemnity insurance to at least the level of two and one-half times gross annual fee income, or 25 times their largest single fee, whichever is the larger. Other areas discussed include: authority and commencement, definitions, approved insurers, qualification for approval, prescribed professional indemnity insurance cover applications, qualifying insurance, minimum indemnity limits, practice mergers, cessation of practices, practices for which insurance is unavailable, constructive declinature, additional conditions for entry into assigned risk pools, maximum time allowed in a pool, and reporting.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
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