Under new rules under consideration by the Treasury, companies may be prevented from listing on the London Stock Exchange for national security reasons.
The ministry said it would discuss the proposal within the next few months.
So First reported by the Financial TimesIf it gives a foreign state access to a state or commercial secret, consider whether the list can be stopped.
Companies owned by people who could harm the interests of the UK could also be blocked.
In a statement on Tuesday, a Treasury spokeswoman said: “The UK’s reputation for clean and transparent markets has made it an attractive global financial center.
“We plan to enhance this by leveraging new targeted forces to block lists that pose national security risks, to inform the design in the coming months. We will start discussions. “
It was after Prime Minister Rishi Sunak said he had planned to relax the UK’s strict stock market listing rules to attract faster-growing companies from abroad.
Proponents say they could attract a lot of the necessary investment in the UK, as tech companies are encouraged to list their shares in London over places like New York.
However, some fear that the board may be less accountable to investors, which could lead to more accounting scandals.
They also suffered scandals at companies such as Carillion, NMC Health and Tesco, and the Financial Conduct Authority, City’s oversight body, lacks the teeth to regulate companies as well as its US peers. Claims.
Under the Treasury’s national security proposal, companies owned by people engaged in activities that could harm the interests of the UK could also be blocked from selling their shares in the London market.
The new rules will focus on key strategic areas such as technology, defense and national infrastructure.