Form BD contains some information that is important to investors and cannot be obtained elsewhere, such as the ownership structure of a firm.

FORBES: Why the SEC Is In Danger of Becoming Irrelevant ( February 28, 2006 )

The ownership structure of Lazard is so complex that even senior bankers at the firm do not understand it.

ECONOMIST: Internal squabbles at Lazard

France is supporting the former head of a state-owned firm to be the chairwoman of EADS, even as the company works to simplify its ownership structure and reduce government interference.

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