Don’t turn the City into the ‘best regulated graveyard’, pension funds toldA group of pension funds called on London Stock Exchange boss, Julia Hoggett, to stop pushing for reform of UK capital markets rulesA group of pension funds has been warned against turning the City into the “best regulated graveyard” today after they called for the boss of the London Stock Exchange to stop lobbying for reform of financial services rules.
Among its campaigns have been a push for greater domestic investment from pension funds and more nuanced debate around the paypackets of City executives.
However, the pension funds claimed CMIT had neglected the views of asset owners and pension funds in its work, warning it risked eroding corporate governance standards in the capital.
Charles Hall, head of research at investment bank, Peel Hunt, added the need for regulatory reform was clear and the group of pension funds risked stifling activity in the Square Mile.
“Corporate governance is important, but there is no point in having the best regulated graveyard,” Hall said...
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