UK: FRC seeks views on merger with UKLA

The Financial Reporting Council has published a short statement and an invitation for comment on the Government's proposal to merge the UKLA with the FRC: see here (pdf). To quote from the statement:

The FRC believes that regulation must be undertaken with the greatest possible understanding of how business works, of how to give justified confidence to investors and of how to preserve and develop the international strength of the UK’s capital markets. We take the Government’s proposal as a vote of confidence in the FRC’s model of regulation, which involves close engagement with companies, investors and other market participants.

The FRC is keen that such proposals can be implemented effectively if the Government decides to proceed. It therefore welcomes the views of its stakeholders on the Government’s proposal to help it prepare its own response to the consultation. The FRC believes it is important that any such change is achieved as efficiently as possible and that the current strengths of both organisations are preserved".