The Financial Services Authority is coming under mounting pressure from City investors to clarify the rules which apply to foreign companies listing their shares in London, says the Guardian .
The fund managers are thought to be concerned that a two-tier system of corporate governance is developing, as firms domiciled in Britain comply with one set of rules and those outside with another less stringent one. Fund managers are concerned that if one of the foreign companies listing their shares on the London market were to fail it would damage the reputation of the City. They are raising their concerns with the regulator after a large number of foreign companies listed in London last year. Of the £28bn of new shares listed on the London Stock Exchange £10bn came from foreign i...
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