Investment groups caution over shortcuts in listings review
One group said: There is a sense they are caving in on this
3 March 2021 • 4:52pm
Investment groups have urged the government to proceed with caution over tweaks to listing rules that the Chancellor hopes will attract a new wave of technology floats in a “Big Bang” for the City.
A raft of new measures, proposed as part of a review into public markets by Lord Hill, include reducing the requirements for a free float and allowing dual class shares in premium segments of the market such as the FTSE 100.
However, some groups have warned the proposals could weaken governance. George Dallas, policy director at the International Corporate Governance Network which has members that manage $54tn in assets, said: “There is an idolatry for these tech companies that for some reason allows governance shortcuts to be made.
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Recent regulatory developments of interest to all financial institutions, including updates from the UK, EU and the FSB. See also our sector specific updates in the Related Materials links.
Contents
Pension freedoms: Work and Pensions Committee call for evidence
Fair treatment of vulnerable consumers: FCA FG21/1
MoU between FCA and EHRC
UK CRD: PRA statement on definition of higher paid material risk taker
Transforming data collection from UK financial sector: BoE plan
End of Brexit transition period: EU publishes draft GDPR and LED adequacy decisions
EU PEPP Regulation: European Commission adopts Delegated Regulations on supervisory reporting and product intervention
Greensill Capital: the lender advised by David Cameron battles for survival
Finance firm founded by Lex Greensill secured Treasury accreditation for Covid loans after series of meetings with top official
2 March 2021 • 7:44pm
The doors of Whitehall were flung open for Lex Greensill last spring. Over the course of a few weeks between April and June, the Australian’s finance firm Greensill Capital was granted no fewer than six meetings with the second permanent secretary to the Treasury.
Government transparency filings show Charles Roxburgh met representatives of Greensill on April 16 and 24, as well as on May 13, 14 and 15, weeks before it was accredited as a lender under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) on June 11.
Bristol named as one of UKâs leading fintech clusters
By Ellie Pipe, Monday Mar 1, 2021
The UK has been quietly undergoing a fintech revolution in the last decade, and Bristol is a leading player according to a new report.
The city and wider region have been named as one of the countryâs top fintech clusters in an independent review of the sector, which includes a series of recommendations on how to maximise the potential in the growing market.
Ron Kalifa, author of the FinTech Strategic Review, which was commissioned by the chancellor, identifies fintech as a âpermanent, technological revolution, that is changing the way we do financeâ.