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The Financial Conduct Authority (FCA) has today finalised rules creating a new category within its premium listing regime to cater for companies controlled by a shareholder that is a sovereign country.
Commenting on the news, Miles Celic, Chief Executive Officer, TheCityUK, said,
The UK has one of the world’s foremost listing regimes but we cannot be complacent. We must continue to be at the forefront of leading global standards, including in investor protection and governance. Today’s announcement is the product of a thorough and transparent process and it will be important that the FCA reviews the impact of the newly created category within its premium listing regime in a timely manner. The highest standards of regulation, governance and transparency will remain a vital component of the UK's future economic success.”
