Mark Adair

New London Stock Exchange taskforce aims to maximise the impact of capital market reforms

London Stock Exchange plc, an LSEG business, announces the launch of a new UK Capital Markets Industry Taskforce, convened with participants across the financial markets ecosystem to drive forward the development of the UK’s capital markets.

Capital markets are often not discussed in the UK through the lens of their ultimate purpose: to direct capital into the real economy to create the jobs and innovation that have an impact on all our lives, and to help savers, pensioners and policy holders find assets to invest for life events and their retirement.

Given their critical role, it is essential that capital markets work effectively. The UK has a superb start-up ecosystem, with world leading universities, a unicorn being created on average every 27 days and world leading fintech and life sciences sectors among many others. And yet, not all of those great companies reach the scale they need or secure financing in the UK.

Addressing this challenge is a vision underpinning much of the regulatory reform currently being undertaken in the UK including through the Kalifa Review and the Hill Review. However, not all the change required to ensure the UK has the growth and productivity gains it seeks will come from regulatory reforms alone.

The Taskforce’s objectives will be to stimulate industry engagement to ensure that the UK’s capital markets serve those who seek capital and those who have capital to invest; that they support the UK economy; and strengthen its role as a global financial centre.

Julia Hoggett, CEO of the London Stock Exchange plc, will Chair the new Taskforce. It will comprise CEOs, Chairs and industry leaders representing private and publicly listed companies, asset owners and managers and the advisory services that support their access to capital and investments representing the full end-to-end ecosystem of the public and private capital markets.

Julia Hoggett, CEO, LSE plc, and Inaugural Chair of the UK Capital Markets Industry Taskforce, said: “I am honoured to Chair the UK Capital Markets Industry Taskforce. This is a great opportunity to work with senior practitioners across the financial markets to build on the momentum of the UK market reviews and reforms, and ensure our markets are right for future generations.”

Nicholas Lyons, chairman of Phoenix Group said: “This new taskforce will play an important role in effecting the change needed to further develop the UK’s thriving ecosystem for high growth companies, while enabling those investing for the long term, such as pension savers, to benefit from the potential of this important asset class.”

Matthew Scullion, CEO and founder, Matillion said: “Recent reforms bring further opportunities to create world leading companies in high growth sectors but if the UK is to create the next Apple or Alphabet, we need an ecosystem which allows companies to be scaled from the UK.”

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