AIC calls for listing rule changes after Saba exposes gaps

AIC calls for listing rule changes after Saba exposes gaps

The Association of Investment Companies (AIC) has urged the Financial Conduct Authority (FCA) to tighten UK Listing Rules after activist investor Saba Capital exposed gaps in protections for shareholders.

AIC proposes changes to FCA listing rules to address ‘conflicts of interest’

The conflict between activist investor Saba Capital and Edinburgh Worldwide Investment Trust has exposed gaps in the UK listing rules that must be addressed to protect shareholders, according to the Association of Investment Companies (AIC). The Financial Conduct Authority (FCA) has brought forward its review of the Listing Rules, including targeted work to assess how investment trust boards are supporting shareholder rights and attempting to pr…

AIC recommends changes to listing rules to protect shareholders

The Association of Investment Companies (AIC) has put forward a series of suggestions to help address gaps in the UK Listing Rules that have been exposed by activist investor Saba Capital. The Financial Conduct Authority (FCA) is currently reviewing the Listing Rules and how they relate to investment entities such as investment trusts, with a particular focus on board independence and potential conflicts of interest. The AIC is seeking to encour…