The Association of British Insurers and Morley Fund Management, one of Britain's biggest fund managers, have backed calls for foreign companies listed in London to be forced to abide by the same corporate governance rules that apply to UK public companies.
They are supporting calls from F&C Asset Management, which last month wrote to the Financial Services Authority asking it to impose higher boardroom standards on non-UK domiciled companies whose shares were traded on the London Stock Exchange. It said the regulatory regime for non-UK companies "re-mains markedly less stringent than that imposed on UK-domiciled companies".
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