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Scott McCubbin, EY UKI IPO Leader, is urging the FCA to be careful about removing safeguards for shareholders, as it tries to make London a more attractive place to invest:

McCubbin says:

The FCA's proposals to reform and streamline the listing regime in the UK are a positive step in simplifying the process and could go some way in raising the UK's profile as a global listing destination. However, caution is required as the proposals remove some key investor protections, such as the ability to vote on key transactions.

Importantly, revising listing regulation is just one piece of the puzzle. A comprehensive package of measures across listings and other areas such as secondary markets, tax, retail investor access, forward guidance, analyst coverage, regulatory capital treatment and labour is needed, rather than a siloed approach.