Lax listing rules come under AIC fire

Rule changes allowing offshore companies an easy route to a London listing cause industry outcry

By amy glass The FSA's decision to allow offshore investment companies to list on the LSE based on less stringent rules than UK firms, has come under fire from the AIC. Last October, the regulator announced overseas investment companies could now list on the LSE without complying with an estimated 120 pages of UK Listing Rules. The latter known as chapter 15. Instead, an overseas investment company only needs to comply with the minimum rules and standards set out by European legislation. Under the revised system, overseas companies can gain a listing under Chapter 14 minimum standards a...