More stringent requirements should be placed on foreign companies looking to list in the UK, according to the Association of British Insurers.
According to Reuters, the call for greater monitoring of foreign firms seeking to list was made by the ABI in response to a consultation by the FTSE Group.
In a written response, the association stated, "We believe that, rather than merely defining nationality as a matter of location, the indices should play an important role in defining companies listed in the UK as meeting British standards of quality."
"As UK investors, we do need to feel that UK standards apply to the companies that are listing in the UK. Becoming listed in the UK should involve becoming committed to UK standards of best practice," said Michael McKersie, manager, investment affairs, at the ABI.
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