The UK’s financial watchdog has backed listing reforms in Britain in a bid to tempt more SPACs to the London market, Yahoo Finance reports.
The Financial Conduct Authority at City & Financials’ “The Modernisation of the Listing Regime” event, pushed for changes to ensure capital markets were up-to-date and innovative, particularly around SPACs.
“The listing regime is still stuck in 1984,” Clare Cole, FCA’s director of market oversight, said. “Large aspects of our regime remain unchanged since then – at its core is a regime based on rules designed when we still stored data on a floppy disk.” Read more.
