On 3 March 2026, we said we’d bring forward our planned review of the UK Listing Rules for Investment entities, including how they apply to board independence and related party provisions.
Since then, there has been substantial debate over our role in relation to investment trusts, including calls for us to ‘get to grips’ with voting rules ‘that allow a minority shareholder to repeatedly attack an...
The FCA's announcement signals a continued focus on maintaining investor confidence in investment trusts, an important part of the UK's financial landscape. By examining conflicts of interest and related party provisions, the FCA seeks to ensure that minority shareholders have adequate protections against potential abuses. The review could lead to amendments to listing rules, potentially enabling a subset of undiversified investment entities to list. However, it is crucial for investors to remai...