LONDON (Reuters) -Britain's rules for firms listed on the stock market are not the reason for companies leaving the London exchange, the chief executive of the Financial Conduct Authority said on
FCA Chief: London Stock Market Exodus Not Due to Listing Rules
LONDON (Reuters) -Britain's rules for firms listed on the stock market are not the reason for companies leaving the London exchange, the chief executive of the Financial Conduct Authority said on Tuesday, following fintech Wise announcing a move to the U.S. last week.
"I'm not hearing it's regulatory, I'm hearing its much wider," Nikhil Rathi told a hearing of lawmakers, when asked why companies were moving their listings elsewhere.
Instead, Rathi cited factors such as the bigger pool of capital in the United States, the low ownership of UK equities by pension funds and limits on executive pay.
(Reporting by Tommy Reggiori Wilkes, Editing by Lawrence White)
