Global investors warn FCA's listings reform will regress shareholder protections

In a letter on behalf of its members, the International Corporate Governance Network (ICGN) said the FCA's proposals to replace the ‘standard' and ‘premium' listing segments with a single one will expose investors to "undue risk", with "potentially significant implications" for pensioners, insurance and retail investors. "We are particularly concerned by the introduction of a more permissive approach to dual class shares structures - with few shareholder protection safeguards - and the removal of shareholder votes prior to significant transactions and related party transactions," Kerrie ...