The biggest global investment banks are examining ways to block rivals from using powers given them under the Jobs Act, potentially obstructing the goals of what is a rare US bipartisan agreement aimed at promoting small businesses.
The new act allows banks to publish research while raising capital for smaller companies – a dual role that larger banks have been forbidden from taking on since the “global settlement” agreed with Eliot Spitzer, the former New York
attorney-general, in 2003.
