FSA and London Stock Exchange review options for listing an investment fund

John Young, Shearman & Sterling LLP.

European stock exchanges offer a number of options for listing an investment fund. Euronext of Amsterdam offers the advantages of a large and liquid market and admission and listing rules compliant with relevant EU directives without additional exchange imposed rules. The Irish Stock Exchange has attracted thousands of open-ended funds for whom a technical listing offers advantages in terms of investor base but which do not require liquidity. Mindful of the need to promote the competitiveness of the London listings market, the UK Financial Services Authority (FSA) and the London Stock Exchange (LSE) have conducted a wide-ranging review of the options available for listing an investment fund in London.