BC-EU—Britain-Underwriting, 1st Ld-Writethru,0092

UK agency investigates equity underwriting

LONDON (AP) – A British regulator says it will investigate the performance of banks in underwriting corporate fundraising.

The Office of Fair Trading says underwriters earned 2 billion pounds (nearly $3 billion) in supporting companies in raising 70 billion pounds of capital for corporations.

The agency says companies have expressed some dissatisfaction with these services among corporate users of the market.

The agency says its review will look at rights issues and other types of fundraising by the 350 largest public companies in the U.K. to consider whether users' concerns are justified.