Float red tape slashed

FIRMS hoping to float in london could soon see red tape slashed.

The Financial Conduct Authority (FCA), which decides which companies list on the stock market, said it is involved in ‘ongoing discussions’ to simplify its two-tier listing system into just one.

At present, businesses which float under a ‘standard’ listing must meet the minimum requirements set by the eU. But those who want to qualify on the FTSe indices must be members of the ‘premium’ listing, which is more rigorous when it comes to filing annual accounts and ensuring businesses show a financial track record. The FCA said it hopes to close the consultation on July 28.