FCA Goes Ahead with pro-Aramco Rule Change

(edited)

"The Financial Conduct Authority said Friday it will introduce a new category of “premium listing” rules, designed for commercial companies controlled by a sovereign country. The new category won’t require prior approval from shareholders for related-party transactions but will insist on “timely disclosure,” while the election of independent directors will be subject to separate shareholder approval."

Can you be that desperate? Apparently, you can. Vicarious embarrassment has overwhelmed me.

Edited by Marina Schwarz
  • Like 1

Share this post


Link to post
Share on other sites

On 6/8/2018 at 9:22 AM, Marina Schwarz said:

"The Financial Conduct Authority said Friday it will introduce a new category of “premium listing” rules, designed for commercial companies controlled by a sovereign country. The new category won’t require prior approval from shareholders for related-party transactions but will insist on “timely disclosure,” while the election of independent directors will be subject to separate shareholder approval."

Can you be that desperate? Apparently, you can. Vicarious embarrassment has overwhelmed me.

I don't really care what gets listed on the stock exchange but my concern is that my pension funds gets filled with this crap given the size of the listing. In the UK pension funds can't hold more than 5% in any entity but 5% could be a years growth these days. 

  • Like 1

Share this post


Link to post
Share on other sites

I think you have a totally legitimate concern there and one that many share. But no worries, it's far from certain Aramco will list at all, let alone abroad.

Share this post


Link to post
Share on other sites

27 minutes ago, Marina Schwarz said:

I think you have a totally legitimate concern there and one that many share. But no worries, it's far from certain Aramco will list at all, let alone abroad.

 

  • Like 1

Share this post


Link to post
Share on other sites