London to modernise its listing rules as attractiveness stumbles

Hill report calls for cut in free float to 15%

The UK will ease its listing rules to encourage firms to choose the UK over rivals in the US and Europe as the Government tries to carve out a role for the City of London after Brexit.

Under the recommendations of the review led by Lord Hill, former EU financial services commissioner, company founders would be able to maintain control over their companies even after listing them on an exchange in London. EY Brexit tracker finds FS firms continue to migrate staff and assets to other European cities Lord Hill said the recommendations were aimed at "closing a gap which has already opened up" with other international markets and attract more firms to list in London. The London Stock Exchange is facing tougher competition from NYSE and Nasdaq in New York, and from Eur...