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MAR 27, 2013 - FT Alphaville

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Is the FSA (still) a leaky ship?

It may seem fanciful that Tidjane Thiam and other directors at Prudential believed that a leak of their planned $35bn takeover of AIA three years ago might come from the FSA. But they did. Here’s paragraph 4.6 from the final notice censuring Mr Thiam and fining the Pru $30m… 4.6. The directors of Prudential, including Mr Thiam, met on 31 January 2010 to be briefed on the proposed transaction by Credit Suisse. There was a consensus between the directors of Prudential at this meeting that: (1) a leak was the key risk to the transaction; (2) the FSA was one of a number of parties ... Read More

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