As in so many other matters, the rest of the world tends to follow what occurs in such financial centres as London and New York. These days greater disclosure on who is really controlling the shares of a company has been proposed by the city watchdog. The Financial Services Authority on Monday 12 November launched a three-month consultation on “contracts for difference” (CFD), derivatives which allow holders to have an economic interest in a company without having direct ownership of the shares, reports The Telegraph on Tuesday 13 November. The advantage of having a preview of what might be in vogue in the rest of the financial world could equip us, even though small players, to be very much at the forefront of developments.

J. Bonett Balzan

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