A new independent review by Lord Hill has recommended reforms to UK Listing rules to boost growth and markets. In response, Policy Chair of the City of London Corporation, Catherine McGuinness, said:

"The UK is a great place to list businesses, with its deep and liquid pools of capital and cluster of specialist expertise. But we need to do more to attract IPOs, especially from entrepreneurial and fast-growing sectors such as tech – while, of course, maintaining high standards of governance and transparency.

“We are facing increasing competition in attracting fintechs, and technology companies more generally, to list. Ensuring that as many of these firms stay in the UK is vital for our fintech sector and for our economy. More than a third of privately funded UK fintechs expect to undertake an IPO in the next five years and are currently considering their options for listing. It is vital that we ensure that listing in London is an attractive option for these companies.

“That is why we welcome the recommendations in Lord Hill's review, which were developed in parallel to the Kalifa Review. The Government should support these measures in order to boost our capital markets."

ENDS

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk