The Financial Services Authority (FSA) has published an update on the investment entities listing review. In response to the feedback received to “CP06/21 – Investment Entities Listing Review,” the FSA will consult on the introduction of a single listing regime for all UK and overseas closed-ended investment funds.
“Throughout our consultation on this aspect of the listing rules, we have been conscious of our responsibility to protect investors while having regard to the competitiveness of the UK market,” said Hector Sants, FSA’s wholesale managing director. “We are persuaded by the responses that have indicated a preference for a single regime. This will form the basis of our proposals when we consult in June. The consultation has also sparked an important debate about the nature of the wider listed market and the segments of the listing regime that carry differing levels of regulatory requirements particularly with regard to overseas companies. We will explore those issues in a separate paper later this year.”
The consultation review may be viewed at: http://www.fsa.gov.uk/Pages/Library/Policy/CP/2006/06_21.shtml