Led by the former EU financial services commissioner, Lord Jonathan Hill, the overhaul could introduce the most significant reforms in the City of London in decades. The review calls for a shake-up of listings rules to allow dual class share structures on the London Stock Exchange’s premium segment, which would give directors and company founders enhanced voting rights. Faced with increasing competition from abroad, Hill also recommended that the chancellor produce an annual report to parliament each year on the competitive position of the City. Sunak said the report had delivered bold ideas to help enhance the UK’s reputation after Brexit. “The review has more than delivered and I’m keen we move quickly to consult on its recommendations, cementing the UK’s reputation at the front of global financial services,” he said.

Source: The Guardian March 02, 2021 22:30 UTC