AIC calls for prospectus reform to reduce 'complex and expensive' regulatory burden

Welcomes FCA listing rule changes

The Association of Investment Companies has called on the Financial Conduct Authority to reform prospectus requirements in order to allow the UK to “seriously challenge” as a listing destination of choice.

In response to the FCA's recent listing rules changes, which the trade body described as a "welcome step in the right direction" and "precursor to further reform", the AIC argued that prospectus reform is "top of the priority list". FCA confirms new listing rules including dual-class structure Richard Stone, chief executive of the AIC, said the current cost and complexity of preparing prospectuses is too high both in terms of time and money, and "acts as a barrier to choosing a London listing". "The FCA should be allowed to review the requirement to prepare a prospectus once a comp...