FTSE 100 firms hit by FCA rules to protect small investors

The Financial Conduct Authority (FCA) has outlined rules which would give shareholders in large UK-listed companies additional voting rights and influence in key decisions. It will also mean a company cannot appoint independent directors without approval from minority investors, and will enhance voting powers for them when a company tries to cancel its stock market listing. All companies with a market capitalisation of over £700m and a controlling shareholder of 30% or more will be affected. This is estimated to include approximately half of the FTSE 100 index, including Sports Direct...