U.K. Revises SPAC Rules in Bid to Lure Blank-Check Firms
- Redemption option for investors among proposed changes
- U.K. government is trying to boost London as a financial hub
This article is for subscribers only.
Britain’s market watchdog plans to revise disclosure rules for blank-check firms by the summer, which could help remove a key obstacle to their taking off in the U.K. market.
The Financial Conduct Authority said it will shortly be consulting on changes to listing rules that will align its regulations closer to markets like New York and Amsterdam, according to a statement Wednesday. The additional disclosure and redemption protections, the FCA said, will then no longer require such companies to suspend their listing when they announce an acquisition.