Jul 7 (Reuters) – Chancellor of Finance Jeremy Hunt, in his Mansion House speech on Monday, will set out new measures to make Britain’s markets more attractive to companies looking to list on its stock exchanges, the UK Treasury in a statement.
Hunt will also seek to reverse a European Union-era securities law, the Treasury said.
The “Manor House Reforms” will simplify the rules for buying and selling shares, improve research facilities, generate higher returns for investors, and design plans that allow private companies to access capital markets without floating in a stock market, according to the Treasury.
The UK is ready to endorse the recommendations of Rachel Kent’s Independent Research Report, paving the way for a new “Research Platform” that provides a one-stop-shop for companies seeking research experts, the statement added. Kent is a veteran financial services attorney at Hogan Lovells.
the UK had last year Announced the launch of the Investment Research Review, an independent review of financial services investment research and its contribution to the competitiveness of the UK capital markets, led by Kent.
The approval also paves the way for potentially removing unbundling rules, a legacy EU law that requires brokers to charge a separate fee for research.
Reporting by Nilutpal Timsina in Bengaluru Editing by Chris Reese and David Gregorio
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