She warned that more needed to be done outside of regulatory tweaks to keep London competitive on the international stage.
New rule changes designed to boost the appeal of UK capital markets are “just one element” of arresting the City’s decline, the chief of the London Stock Exchange warned today.
London bourse chief Julia Hoggett said that a host of new rule changes revealed by the FCA last night, which include merging the standard and premium segments of the market, were a “meaningful step forward towards ensuring the UK remains a leading global capital market”.
However, she warned that more needed to be done outside of regulatory tweaks to keep London competitive on the international stage.
“We believe this approach strikes the right balance in creating a simplified listing regime for companies whilst giving investors the information they need to make informed investment decisions and creates a level playing field for UK companies competing with international peers,” she said.
“These proposed rule changes are just one element of the reforms needed to improve the competitiveness of the UK’s capital markets.”
Hoggett’s comments came as she called for bosses of listed firms to be paid more to tempt in more top talent and investment in the UK.
In an article on the London Stock Exchange website today, she said the UK should be “encouraging and supporting UK companies to compete for talent on a global basis” so it remains an “attractive place for companies to base themselves, stay and grow”.
The plans from the FCA and Hoggett mark an acceleration of efforts to stop a slump in the standing of the London Stock Exchange as firms snub the City in favour of New York...
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