When the Competent Authority for listing was transferred from the LSE to the FSA in May 2000, we agreed with HM Treasury to carry out a fundamental review of the listing regime.
The process of integrating the listing regime into our general regulatory approach is well underway. We intend to use the Listing Review to continue this process. In particular, we want to ensure that the Listing Rules are, as far as possible, consistent with the FSA Handbook, and that our risk-based approach to regulation is embedded in the UKLA.