FSA pursues AIC stance on listing rules

Details of a policy update paper issued this morning suggest the FSA has listened to industry arguments about its proposals to produce a two-tier listing regime for UK companies which would have meant overseas firms – including investment trusts – would not be subject to the same stringent requirements as UK-based operations. The AIC had previously argued while it understood the FSA’s desire to reduce regulation under a principles-based regime, consumer protection could be at risk from overseas firms because they would be able to implement lower levels of protection under the ‘super-equiva...