(Bloomberg) -- Rishi Sunak will unveil proposals to revamp stock exchange listing rules on Wednesday as the U.K. seeks to boost the City of London post-Brexit.
The Chancellor of the Exchequer will publish the findings of an independent review into the U.K. listing regime alongside his budget, according to a person familiar with the matter, who asked not to be identified discussing private plans.
The review, which is headed by Jonathan Hill, a former financial services commissioner for the European Union, has been examining ways to attract more companies to list in London amid concern that the U.K. is missing out on tech-startup IPOs and other hot corners of the capital markets.
His remit included looking at whether the current rules around free floats and dual-share structures strike the right balance between corporate governance and attracting business.
London Stock Exchange Group Plc is among industry players backing looser regulations while a panel that advises British regulators also said it may be worth loosening restrictions around blank-check firms, which have boomed in the U.S. Others, like the Investment Association, the main U.K. industry group for asset managers, have resisted such calls to relax standards.
London's Top Investors Warn on Post-Brexit Easing of IPO Rules
Sunak commissioned the review in November as part of efforts to enable London to better compete with markets such as New York and Amsterdam for “high-quality” equity listings. The chancellor has said that Brexit means there's now a “whole range of things” the U.K. can do differently from the European Union.
Last week, the Financial Conduct Authority announced the appointment of Clare Cole as director of market oversight, charged with leading the regulator's response to the review.
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