UK Eyes Lock For 'Back Door' To Premium Stock Listings

Law360, New York (January 26, 2012, 4:58 PM EST) -- Britain's Financial Services Authority on Thursday proposed rules that would heighten barriers when companies seek a “back door” entry to a premium listing on a U.K. exchange via a reverse takeover.

Companies enjoying premium listings are required to meet high standards for financial reporting and corporate governance and typically are more trusted by investors.

"They're trying to prevent a standard-listed company from reversing into a premium-listed company without having to go through the eligibility requirements," London-based Jones Day mergers and acquisitions partner Leon N. Ferera told...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.