Commenting on the outcome of Lord Hill's UK Listing Review, Chris Cummings said:
"The proposed reforms are an important first step to help re-energise capital markets and attract high-growth, innovative companies to set up, list, and grow their business operations in the UK, providing high value jobs that will benefit the economy. The much-needed rebranding of the standard listing segment and the review of the prospectus regime are important steps in achieving a modernised listings regime. We look forward to working with the government and regulator on the review’s proposal to allow dual class share structures and reduced free float in the premium segment, while ensuring there are appropriate investor protections for minority shareholders. The review should also ensure the UK is positioned as the leading global hub for sustainable investment, so those companies that list here deliver outstanding long-term returns for savers and investors."
For further information, please contact:
Katie Martin, Head of Communications: katie.martin@theia.org
T: +44 (0)20 7269 4655
Helen Ayres, Communications Manager: helen.ayres@theia.org
T: +44 (0)20 7269 4620
David Parton, Communications Executive: david.parton@theia.org
T: +44 (0)20 7269 4625
IA press office: Press@theia.org
T: 020 7269 4696
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £8.5 trillion of assets and the investment management industry supports 113,000 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.