Finance Minister Jeremy Hunt in his Mansion House speech on Monday will set out new measures to heighten the appeal of British markets to firms seeking to float in its stock exchanges, UK’s Treasury said in a statement on Friday.
Hunt will also seek to roll back a European Union-era securities law, Treasury said.
The “Mansion House Reforms” will simplify rules for buying and selling shares, improve research facilities, deliver higher returns for investors, and lay out plans that allow private companies to access capital markets without floating on a stock exchange, according to the Treasury.
UK is set to approve recommendations in Rachel Kent’s Independent Research Report, paving the way for a new “Research Platform” to provide a one-stop-shop for firms looking for research experts, the statement added. Kent is a veteran financial services lawyer at Hogan Lovells.
UK had last year announced the launch of the Investment Research Review – an independent review of financial services investment research and its contribution to UK capital markets competitiveness, headed by Kent.
The approval also sets the way for potentially removing unbundling rules – an inherited EU law that requires brokers to charge a separate fee for research.