Baroness Hogg, chairman of the Financial Reporting Council, has joined the rising tide of criticism against government plans to move the UK Listing Authority under the remit of the body she chairs.

The UK coalition government has proposed to move the UK Listing Authority, which oversees the listing of shares on a stock exchange, under the remit of the Financial Reporting Council, which promotes high quality corporate governance and reporting, as part of its proposed break-up of the Financial Services Authority.