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London listing reforms are ‘incoherent’, says ShareAction boss

There is ‘minimal evidence’ that dual-class share structures and fatter pay cheques will jumpstart UK economic growth, the head of the pressure group tells FN

The London Stock Exchange has faced pressure to secure more floats, but consumer advocates aren’t sold on the latest overhaul to its rules
The London Stock Exchange has faced pressure to secure more floats, but consumer advocates aren’t sold on the latest overhaul to its rules Photo: Carl Court/Getty Images

Reforms to improve the competitiveness of UK markets are “incoherent”, ShareAction’s chief executive has said.

Catherine Howarth, CEO of the responsible investor charity, told Financial News that the Financial Conduct Authority’s overhaul of the UK’s listings regime has weakened protections for institutional investors just when the government is trying to encourage more investment from pension funds into British companies.

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