FSA targets governance and free float rules

The UK regulator has published a consultation paper into the UK IPO market, bringing free float rules into the spotlight, a move that has been attacked by investors

The UK Financial Services Authority has called for a relaxation of free float requirements for initial public offerings and an increase in corporate governance standards, which has drawn fire from some investors.

The UK regulator, in a consultation paper into UK listing rules that it published this morning, has proposed to remove the minimum free float of 25% for standard listings, "provided that sufficient liquidity is present".

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