The Financial Conduct Authority says changes to the listing rules to allow sovereign-owned companies will be “transparent and safe”.
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The UK's financial watchdog the Financial Conduct Authority (FCA) has defended its decision to create a new listing category for companies owned by sovereign states.
The change has been widely interpreted as an effort to clear the way for a listing of Saudi Arabia's state-owned oil company Aramco on the London Stock Exchange.
Some commentators have claimed that the proposed changes could expose UK shareholders to companies with lower levels of corporate governance.
Speaking to Reuters, Andrew Bailey, chief executive of the Financial Conduct Authority, said: "Some of the commentary from some of the people has suggested that the premiu
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