The press release issued by HM Treasury on 9 March 2023.
A new chair has been tasked to lead a wide-ranging review into the UK’s research and investment landscape – which helps attract some of the largest companies in the world.
- A new review into the UK’s research and investment landscape will formally kick off on Monday (13 March) – City Minister Andrew Griffith is expected to announce tomorrow in a speech at FIX trading
- Rachel Kent, senior partner in financial services at Hogan Lovells, has been announced as chair of the Review.
- Move comes just weeks before Financial Services and Markets Bill expected to receive Royal Assent – enabling us to deliver more of the Edinburgh Reforms
The review, which was first announced as part of the government’s Edinburgh Reforms, will formally kick off on Monday 13th March. It seeks to develop concrete steps the government can take to enhance London’s status as Europe’s leading listings destination, and only second globally.
Rachel Kent, an expert and senior financial services partner at leading global law firm Hogan Lovells, has been tasked by City Minister Andrew Griffith MP with leading the review, and has been asked to report within three months.
Speaking at the FIX trading conference, City Minister Andrew Griffith is expected to say:
Research matters – and the right depth and breadth of investment research is vital to ensure markets operate well and companies obtain the valuations they deserve.
I am therefore pleased to announce City expert, Hogan Lovells Partner Rachel Kent, will spearhead the Investment Research Review.
With her experience and knowledge of the sector, as well as the regulatory framework, I have every confidence Rachel will do a fantastic job at speedily convening the sector, looking at the evidence and finding solutions to improve the UK market for investment research.
I look forward to receiving her recommendations.
Investment research provides investors with information that allows them to understand a company’s business model, performance, and risks, and therefore to assess its value as an investment.
Concerns have been raised about the quality and quantity of investment research produced in the UK as compared to other jurisdictions – particularly for certain sectors like tech and life sciences – and that this could undermine valuations and therefore the attractiveness of the UK as a place to list and make it harder for companies to access private capital.
Through the review, the UK is seeking to identify and address some of these concerns, to ensure London maintains its unique attractiveness as a listing’s destination.
Attracting some of the largest companies in the world to list in the UK supports a broader ecosystem providing high-skill, and high-paying jobs for Brits up and down the country – widening opportunity and increasing revenues for the public purse.
Addressing these issues will help to deliver on the government’s plan to grow the economy and become a leading technology superpower.