The Financial Services Authority, the U.K.’s top financial regulator, has announced reform proposals intended to provide greater scrutiny of reverse mergers and improve corporate governance standards for companies with a “controlling shareholder.”
The changes detailed in a “consultation paper” released on Tuesday would apply to its listing rules for companies listed in the United Kingdom that are under the purview of the United Kingdom Listing Authority (UKLA), which operates under the FSA. The “Listing Regime” establishes best practices and governance obligations for issuers.
