British company directors caution against relaxing rules to attract more stock market listings

British corporate lobby group the Institute of Directors on Wednesday said relaxing rules to attract more stock market listings to London could put at risk the UK's strong track record on corporate governance.

The Institute of Directors, in one of the first public responses to the listing review, said it favoured leaving the main"premium" listing rules unchanged. But it suggested creating a separate category for a"new breed" of innovative start-up firms that could have different rules, such as allowing dual class shares, which give some shareholders more voting power than others.

The LSE also supports dual-class shares, the person said. Dual-class shares are common in the United States. The principle of"one share, one vote" should be retained on the LSE's"premium" segment, the IA said. The so-called premium segment rules apply to blue-chip companies.

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