Such offsetting trades were done purely to reward the IPO-offering bank, the NASD said.

FORBES: Fines, Findings May Bring IPO Case To A Head

Waterhouse, the industry number two, owned by Toronto-Dominion bank, is ahead in offering bank accounts that carry federal deposit insurance.

ECONOMIST: The real virtual business

In his Financial Times article Mr Lou goes on to call for what look like special terms for any investment in the UK. He asks for "pro-investment policies to create an attractive environment" including "reducing taxes and offering bank loans at discounted rates", and says governments seeking external investment "should relax regulatory restrictions".

BBC: China to the UK's aid?