FSA listings provide gaping hole for disreputable firms, says AIC

FSA proposals to introduce a two-tier listing regime for investment companies are unlawful, accordin...

FSA proposals to introduce a two-tier listing regime for investment companies are unlawful, according to the AIC. The association said the plans, which allow offshore investment companies to bypass 120 pages of FSA regulation and still gain a full listing on the London Stock Exchange, discriminate against UK companies. Daniel Godfrey, director general of the AIC, said: "Under the proposals, offshore companies can choose the lighter regime, while UK companies cannot. This discriminates against British investment companies simply because they are domiciled in the UK." These proposals were ...