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UK revises SPAC rules to attract listings to London market

Bloomberg7/27/2021 08:33 PM GMT+08  • 2 min read
UK revises SPAC rules to attract listings to London market
The FCA said the shift would provide more flexibility to larger SPACs
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Britain’s financial watchdog revised rules for blank-check firms in a bid to attract listings, even as the boom in the market begins to falter.

The Financial Conduct Authority confirmed Tuesday, July 27, it will no longer require special purpose acquisition companies, or SPACs, to suspend their listing when they reveal their deal plans -- removing one of the roadblocks that kept London out of the fundraising rush last year.

The regulator also announced minor changes to its reforms, which were proposed in April, after a consultation with the industry. The tweaks include:

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