
UK Probe Exposes Poor Valuation Practices Across Private Markets
(Bloomberg) — Valuations in the rapidly-growing private markets arena can suffer from unmitigated conflicts of interest, poor record-keeping and smoothing of volatility, the UK’s top financial regulator warned. Valuation committee minutes’ failed to record how decisions are reached on multiple occasions, the Financial Conduct Authority’s probe found, and “vague” rationales were recorded for key changes...
Read more