The FSA is leaning towards adopt a single listing regime for all UK and overseas closed-ended invest...
The FSA is leaning towards adopt a single listing regime for all UK and overseas closed-ended investment funds, following feedback on initial proposals.
Hector Sants, FSA wholesale managing director, said the authority had been persuaded by review responses indicating a preference for a single regime.
The initial consultation suggested a dual regime, with less stringent rules for overseas companies.
“There were a large number of responses to the consultation with general agreement on the objective of making the UK regime more attractive to less traditional funds," added Sants.
A consultation paper setting out details of the proposed single platform will be published in June, with implementation expected in Q1 2008.
The FSA will also hold discussions with stakeholders about the structure and quality of UK listed markets with the aim of publishing either a discussion or consultation paper later in the year.