| UPDATED: 16:18, Thu, Mar 4, 2021
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Dominic Raab dismisses EU threat to City of London Sign up to receive our rundown of the day s top stories direct to your inbox
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Last week, Bank of England Governor Andrew Bailey warned the European Union against mounting a raid on the City of London, saying the Old Lady will resist very firmly any attempt by Brussels to force financial trading worth trillions of pounds to relocate after Brexit. Amid mounting speculation EU officials could force more financial business moves within its borders, Mr Bailey said steps forcing the relocation of euro derivatives, otherwise known as financial instruments, would repres
There s long been a trend of European firms snubbing local exchanges in favor of the U.S. markets due to more favorable valuations and share structures. The U.K. government wants to change that and has released several proposals ahead of its annual budget announcement.
The U.K. listings review, led by former EU financial stability chief Lord Jonathan Hill, makes a number of key proposals aimed at bolstering London s stock market:
Allowing dual class share structures to give founders more control.
Reducing free float requirements to avoid diluting early backers.
Relaxing rules around special purpose acquisition companies, or SPACs.