The U.K. financial regulator has proposed scrapping 'premium' and 'standard' listing segments as it seeks to attract bigger listings.
The U.K. financial regulator has proposed replacing the London Stock Exchange's 'premium' and 'standard' listing segments with a single category as it seeks to attract bigger listings.
"We strongly support the principles behind listing rule reform ... but eroding shareholder rights risks undermining market standards, and this is not the right answer," commented Richard Wilson, CEO of trading platform interactive investor. Britain's appeal as a global financial centre has come into question in recent years as companies have increasingly sought listings in rival hubs such as New York and after the country was largely cut off from the European Union by Brexit.The Financial Conduct Authority has proposed replacing Britain's existing 'premium' and 'standard' listing segments with a single category, as part of a package of reforms designed to simplify the country's listings rulebook.
The watchdog began consulting on potential changes to its listing regime in March, and the more detailed proposals will undergo a further round of consultation ending on June 28.
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