• Home
  • Contact Us
  • Privacy & Policy
Tuesday, May 24, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Stocks

UK stock market to lure SPACs with rules overhaul

by admin
March 31, 2021
in Stocks
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


City of London skyline. Photo: Vuk Valcic/SOPA/LightRocket via Getty

City of London skyline. Photo: Vuk Valcic/SOPA/LightRocket via Getty

Britain’s financial watchdog has fired the starting gun on plans to overhaul stock market rules in a bid to lure more SPACs to the London market. 

The Financial Conduct Authority (FCA) on Wednesday said it would launch a four week consultation on rules changes for special purpose acquisition companies (SPACs) — so-called “blank cheque” companies that have boomed in popularity over the last year.

The FCA said in brief statement it would look to “strengthen protections for investors” and align rules “more closely with other major jurisdictions.”

READ MORE: Everything you need to know about SPACs, the hottest trend in finance

SPACs are companies with no business operations that raise money through a stock market listing and then use that money to buy another business. SPAC investors are typically retail investors and these structures can give them access to private investments they would otherwise not be able to reach. For companies that sell to SPACs, these types of deals offer a quick and relatively easy way to list on the stock market.

The FCA’s proposals include allowing SPACs to continue trading after identifying an acquisition target and a redemption option for investors.

The reforms follow the publication of the Lord Hill review into stock market rules earlier this month. The report called for an overhaul of public market rules to help keep the UK competitive with international markets. A key proposal was liberalising rules around SPACs to attract more to list in London.

WATCH: What are SPACs?

READ MORE: Arrival becomes UK’s biggest tech IPO with $13bn Nasdaq float

“At present, the regulatory framework is far more limiting with regards to SPACs than in the rest of Europe, especially in comparison with the US,” analysts at Barclays Capital wrote in a note published on Wednesday. The analysts said reform would be “key” to attracting more SPACs.

SPACs have exploded in popularity over the last year, largely in the US. Over $100bn (£73bn) has been raised through SPACs in just the last 12 months and the total raised in 2021 has already surpassed that of 2020.

“As the SPAC market has grown rapidly in the US, it has drawn increased scrutiny,” Barclays analyst wrote. “As such, whilst issuance remains strong, it may slow in the US, and that could have a knock-on impact on the rate of growth in Europe.”

The FCA said it hopes to have new rules in place by early summer.

WATCH: How to prevent getting into debt



Source link

Tags: luremarketoverhaulrulesSPACsstock
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

Lockheed Martin, Filecoin Foundation to Explore Hosting Blockchain Nodes in Space

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

Lockheed Martin, Filecoin Foundation to Explore Hosting Blockchain Nodes in Space

May 24, 2022

Arthur Hayes, ex CEO de BitMEX, es sentenciado a 2 años de libertad condicional

May 24, 2022
FOREX-Dollar near 2-1/2-month lows as commodity gains stoke inflation worries | Business

FOREX-Safe-haven dollar bounces, Aussie slides as Snapchat sours mood | Business

May 24, 2022

Win Streak May Continue For Thai Stock Market

May 24, 2022

Recent News

Lockheed Martin, Filecoin Foundation to Explore Hosting Blockchain Nodes in Space

May 24, 2022

Arthur Hayes, ex CEO de BitMEX, es sentenciado a 2 años de libertad condicional

May 24, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.