Rolet celebrates rules rethink

David Hellier
Follow David
LONDON stock exchange (LSE) chief executive Xavier Rolet yesterday applauded the government’s decision not to split the regulation of the UK’s primary and secondary markets in its shake-up of the financial regulatory system.

Speaking at the LSE’s interim results presentation yesterday, Xavier Rolet said: “We very much welcome the government’s announcement that the regulation of the UK’s primary markets will be located within the Consumer Protection and Markets Authority, which will hold the seat in Brussels. This is very good news for the UK, for the corporate sector looking to raise capital, in particular SMEs, and for financial markets”

The stock exchange chief has for weeks been waging a campaign (which began in CityA.M.) against earlier coalition proposals that would have split up the listing regulation and might have weakened the UK’s position in Brussels.

In changing its mind, the government said the City made a strong case in arguing that the Listing Authorities should not be split.