The Financial Conduct Authority (FCA) has said it will look to make the listing requirements for open-ended investment companies (OEICs) and exchange traded funds (ETFs) "less complex".
The City regulator said its proposals would no longer require OEICs, which are the legal form that ETFs usually take, to apply for a premium listing, instead allowing them to apply only for a standard listing. Under the FCA's proposals, all OEICs, of which there are 11, that currently have a premium listing will automatically become standard listed when final rules come into force. This will also apply to ETFs. Future OEICs and ETFs applications, meanwhile, will not have to seek a premium listing. Market Movers Blog: FTSE 100 dips into bear market territory in fourth-biggest daily fal...
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