LSE launches task force to drive UK capital market reform

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The London Stock Exchange has launched a new UK Capital Markets Industry Working Group, bringing together participants from across the financial markets ecosystem to drive the development of UK capital markets .

The new task force seeks to ensure well-functioning capital markets, directing capital into the real economy to create jobs and promote innovation.

The objectives of the task force include stimulating industry engagement to ensure that UK capital markets serve those seeking capital and those seeking to invest, and ensuring that markets capital supports the UK economy and strengthens its position as a global financial centre.

A wide range of sub-groups will make up the working group, deliberately drawing from industry, academia and civil society to ensure inclusive and in-depth debate on specific areas where change is needed.

In addition, methods for enabling the ecosystem to evolve will be reviewed by the working group, while supporting current and future regulatory changes to ensure that the focus on reform implementation continues and is effectively adopted.

The working group will be chaired by Julia Hoggett, chief executive of the London Stock Exchange. It will be comprised of various CEOs, Presidents and industry leaders from private and publicly listed companies, asset owners and managers as well as advisory services that support their access to capital and investments – bringing together a group that represents the entire end-to-end ecosystem of public and private capital markets.

The first members of the working group are:

  • Exchange: Julia Hoggett, CEO, LSE (Chair)
  • Advocate: Mark Austin, Partner, Freshfields, Chair UK Secondary Capital Raising Review and Listing Authority Advisory Panel Chair
  • Corporate and Investment Banking: Katharine Braddick, Head of Group Strategic Policy and Advisor to the Group CEO, Barclays.
  • Asset Manager: Peter Harrison, CEO, Schroders
  • Venture capitalist: Klaus Hommels, VC and founder of Lakestar
  • Pension Fund/Insurer: Nicholas Lyons, President, Phoenix Group
  • Private Company CEO: Matthew Scullion, CEO and Founder, Matillion
  • Consulting/Auditing/Accounting: Dr Kay Swinburne, Vice President of Financial Services at KPMG UK
  • Chairman of the listed company: Sir Jonathan Symonds, Chairman, GSK.

“Strengthening our financial ecosystem and thereby improving the competitiveness of UK capital markets is an ongoing task. It is essential to ensure that UK capital markets continue to provide efficient access to capital, enabling businesses to start, grow, grow and stay here, and providing all savers and investors access to the best possible assets, generating the best possible growth potential. “, said Hoggett.

“I am honored to chair the UK Capital Markets Task Force. This is a great opportunity to work with experienced practitioners in the financial markets to build on the momentum of UK market reviews and reforms and ensure our markets are suitable for future generations.

Later today, the government is expected to publish the Financial Services and Markets Bill. The Future Regulatory Framework (FRF) review for new post-Brexit financial services regulation was first introduced by Rishi Sunak in July 2021 and is expected to be released today, in anticipation of the bill will include some of the removed or watered down Mifid II regulations. down.

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