FTSE 100 firms hit by FCA rules to protect small investors

Half the companies in the FTSE 100 could be affected by new rules designed to protect minority investors.

The Financial Conduct Authority (FCA) has outlined rules which would give shareholders in large UK-listed companies additional voting rights and influence in key decisions. It will also mean a company cannot appoint independent directors without approval from minority investors, and will enhance voting powers for them when a company tries to cancel its stock market listing. All companies with a market capitalisation of over £700m and a controlling shareholder of 30% or more will be affected. This is estimated to include approximately half of the FTSE 100 index, including Sports Direct...