British MPs insist that the reputation of UK corporate governance is safeguarded following changes to listing rules, which has prompted concerns over the listing of Saudi Arabia’s state-owned oil company.
Two UK MPs have insisted that the reputation of UK corporate governance must be safeguarded as regulators consider a new listing category for companies with a sovereign owner.
Nicky Morgan, chair of the House of Commons treasury committee, and Rachel Reeves, chair of the business committee, have written to the markets regulator at the Financial Conduct Authority (FCA), stating that a current consultation raises concerns about the UK's corporate governance.
The consultation has been widely reported as an effort to prepare listing rules in a way that would win the listing of Saudi Arabia's state-owned oil company Aramco.
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