LONDON - The biggest collective owners of UK shares have warned the London Stock Exchange against weakening its listing rules and governance standards to help attract fresh business, a letter to its chair seen by Reuters showed.
The Financial Conduct Authority is due to finalise a radical shake-up of listing rules in coming weeks. LSEG declined to immediately comment on the letter. CMIT did not immediately respond to a request for comment. Some post-Brexit financial reforms proposed by government and widely backed by the sector were in the pipeline before CMIT was launched in July 2022.
A number of companies had also left the public markets due to insolvency, including because of poor auditing, such as Northern Rock and Carillion.
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