Report comment

More rubbish from these people but what does one expect?

As a corporate lawyer, and investor, I remember when a company prospectus (especially for a rights issue) and reports and accounts were short documents. Regulators have made them so long that only investor professionals, and those like me who write them, have a hope of understanding them.

What needs to happen is for the regulators to remove their straightjacket obligations and allow us to write simple retainer letters which clients have a prospect of understanding. More regulations mean more costs (which are ultimately paid for by clients) and less prospect that the average client will find their way around the documents let alone understand them.