Abstract
This article reviews regulatory concerns prompted by the difficulties that were encountered by four British banks in making rights issues and other pro rata equity offerings between April and August 2008 against a background of adverse market conditions. Its conclusion that rights issues are too cumbersome and too time-consuming swims with the mainstream of current thinking. The article contributes to the debate by considering what options for change it is realistic to pursue given the confines of the existing mandatory legal framework, much of which is now set at the European level.
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