FCA’s Policy Overhauls to Listing Requirements on London Stock Exchange: UKSIF Reaction
[11th July 2024, London] This morning the Financial Conduct Authority (FCA) published its well-trailed series of policy overhauls to the listing requirements for UK PLCs, having been in review / consultation from December 2023.
Oscar Warwick Thompson, Head of Policy at UKSIF commented:
“It is disappointing to see these new listings rules confirmed by the FCA which will reduce the scope for effective shareholder engagement with companies and board accountability, and we anticipate many investors will have concerns. We remain fully committed to working with the FCA and policymakers on the multitude of other factors that play a more prominent part in determining where companies decide to list. This includes the depth and liquidity of our markets, the wider policy environment, and governance issues. Policymakers should look beyond listings reform alone to focus on strengthening the effectiveness of the UK’s capital markets and help ensure UK businesses can scale up and drive growth.”