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New British financial taskforce to help embed market reforms

Randy Mancini 10 Jul 19

LONDON (Reuters) – The London Stock Exchange Group said on Tuesday it has launched a taskforce to drive through financial reforms announced by British government to buttress the capital’s attraction for global investors.

The UK Capital Markets Taskforce includes chief executives, chairs and industry leaders to help ensure the “UK is the place where great companies can start, grow, scale and stay”, LSEG said in a statement.

London has long faced competition from New York, where top tech companies go to list, but since Britain’s departure from the European Union, it now also competes with the likes of Amsterdam, which has become Europe’s biggest share trading centre.

Britain will publish legislation on financial reforms on Wednesday.

The taskforce will work to “implement and embed those changes and indeed in some places re-evaluate and challenge how parts of our markets currently operate and where further change is required”, LSEG said.

It will be chaired by Julia Hoggett, who heads up LSEG’s UK exchange, with representatives from Barclays bank, Schroders asset management, consultants KPMG and other institutions.

(Reporting by Huw Jones; Editing by Nick Zieminski)