London Stock Exchange boss Dame Julia Hoggett has backed the ‘largest set of reforms to listing rules in decades’.
Long-awaited changes by the Financial Conduct Authority (FCA) aim to revive the UK’s status as a stock market after losing high-profile firms to overseas rivals.
Hoggett said: ‘It will ensure companies listed in the UK can benefit from a regime that better supports growth ambitions, increases investment opportunities for UK investors and supports the UK economy.’
Shake-up: City Watchdog The Financial Conduct Authority has implemented a series of changes to listing rules as part of efforts to revive the UK’s status as a stock market venue
Chancellor Rachel Reeves said: ‘These rules represent a significant first step towards reinvigorating our capital markets, bringing the UK into line with international counterparts and ensuring we attract the most innovative companies to list here.’
The FCA first published plans last year and they come into force on July 29, creating a ‘simplified’ regime that ends the distinction between standard and premium listings.
Currently only companies with premium listings can join the FTSE 100 and FTSE 250 indices, so abolishing the distinction clears the way for more to do so.
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