UK regulator suggests simpler listing rule for London
By Huw Jones
LONDON (Reuters) – Britain’s twin-track firm itemizing regime could possibly be simplified right into a single entry level to the London Inventory Alternate to draw extra startups, the Monetary Conduct Authority (FCA) mentioned on Thursday.
Britain needs to bolster London’s attractiveness as a worldwide location for listings because it continues to path New York in bringing tech corporations to the market, and faces added competitors from Amsterdam since Brexit.
The FCA mentioned in a dialogue paper on Thursday that one suggestion was corporations wishing to checklist in London would not have to decide on between two totally different choices, customary and premium, with their totally different branding and requirements.
“As an alternative, all listed corporations would wish to satisfy one set of standards and will then select to decide into an additional set of obligations,” the FCA mentioned in a press release.
“Corporations and their shareholders would determine for themselves whether or not these extra obligations have been proper for them.”
The dialogue paper takes a broader have a look at Britain’s listings regime following adjustments to present guidelines.
In July 2021, the FCA eased guidelines for so-called particular function acquisition corporations (SPACs) to draw extra listings to London following a surge in exercise in New York and Amsterdam of those “clean verify” corporations.
In December, the watchdog mentioned it will enable a focused type of twin class share constructions, a function of the New York market which has attracted many tech firm listings.
(Reporting by Huw Jones; Modifying by Sinead Cruise and Mark Potter)
