The Financial Conduct Authority has launched an inquiry into Kristo Käärmann's ‘regulatory obligations and standards’.
Compressing Britain's two company listing segments to attract more tech firms could put an existing "gamechanger" at risk, a top London Stock Exchange official said on Thursday. Britain wants to use its post-Brexit flexibility in financial rulemaking to compete better with New York in company listings, and is trying to persuade chip designer Arm to list in London rather than on Wall Street. The Financial Conduct Authority (FCA) has already eased some listing rules and has proposed going further by merging the standard and more demanding premium listing categories.
Move follows pressure from UK government officials including PM Boris Johnson and chancellor Rishi Sunak to keep the British tech giant based in Britain.