PruSec Next To Gag Analysts

BBC News reports that US-based Prudential Securities has given new instructions to its sector analysts concerning speaking to the media - they are now forbidden to do.

The firm has, however, denied that the move was an anti-media ploy. Jim Gorman, a Prudential spokesman, said: 'We started out by separating our research from the investment bank. Now we're separating our investment commentary from reaching people who don't pay for it through any medium'.

The media ban will not apply to firm analysts who make general comments on the markets or the economic outlook, but, with immediate effect, analysts will not provide additional commentary on their published reports to live and printed news media.

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