London Stock Exchange: Foreign Companies

Treasury written question – answered on 14th June 2018.

Alert me about debates like this

Photo of Mike Penning Mike Penning Conservative, Hemel Hempstead

To ask Mr Chancellor of the Exchequer, whether he has asked the Financial Conduct Authority to review its processes to ensure that companies seeking listings on the London Stock Exchange which are subject to (a) US and (b) EU sanctions are investigated on national security grounds; and if will he make a statement.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Sanctions of third countries do not affect whether companies should be allowed to float on the London Stock Exchange. We impose sanctions, either unilaterally or through the EU, when we have sufficient evidence to prove that sanctions on a person or company satisfy the purposes of the regime in question. Any company that is subject to relevant EU sanctions will not be allowed to list, and these sanctions additionally prevent designated persons from being the beneficiaries of the proceeds of a listing. This is also true for persons that are listed under a UK autonomous sanctions regime.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.