Dame Julia Hoggett, chief executive of the London Stock Exchange, has backed the ‘biggest overhaul of listing rules in decades’.
The long-awaited changes from the Financial Conduct Authority (FCA) are aimed at restoring the UK’s stock exchange status after the country lost leading companies to foreign rivals.
Hoggett said: ‘This will allow companies listed in the UK to benefit from a regime that better supports growth ambitions, increases investment opportunities for UK investors and supports the UK economy.’
Shakeup: City Watchdog The Financial Conduct Authority has made a raft of changes to its listing rules as part of efforts to revive the UK’s status as a stock exchange
Chancellor of the Exchequer Rachel Reeves said: ‘These rules are an important first step towards revitalising our capital markets, bringing the UK on a par with global competitors and attracting the most innovative companies to list here.’
The FCA first published plans last year, which come into effect on 29 July, creating a ‘simplified’ regime that removes the distinction between standard and premium listings.
Currently, only companies with a premium listing can join the FTSE 100 and FTSE 250 indices. Removing this distinction will create space for more companies to join.
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