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London Stock Exchange chief executive Dame Julia Hoggett has backed “the biggest set of reforms to listing rules in decades”.
The long-awaited changes by the Financial Conduct Authority (FCA) are aimed at reviving the UK’s status as a stock market after losing high-profile firms to foreign rivals.
Hoggett said: “This will ensure that UK-listed companies can benefit from a regime that better supports growth ambitions, increases investment opportunities for UK investors and supports the UK economy.”
Changes: 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 securities market venue.
Chancellor Rachel Reeves said: “These rules represent a significant first step in reinvigorating our capital markets, bringing the UK into line with its international counterparts and ensuring we attract the most innovative companies to list here.”
The FCA first published the plans last year and they will come into force on July 29, creating a “streamlined” 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 paves the way for more companies to do so.
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