On Monday, March 13th, a new review of the UK’s research and investment landscape will be launched, aiming to develop measures that can enhance London’s status as Europe’s top listings destination and the second globally. The review was first announced as part of the Edinburgh Reforms and seeks to address concerns about the quality and quantity of investment research produced in the UK, particularly in the tech and life sciences sectors, as compared to other jurisdictions.
The review will be chaired by Rachel Kent, a senior partner in the financial services regulatory team at Hogan Lovells, who has been tasked with reporting within three months.
City Minister Andrew Griffith is expected to announce the review’s launch in a speech at the FIX trading conference, where he will highlight the importance of investment research in ensuring that markets operate well and companies receive the valuations they deserve.
The review’s findings will be critical in helping to maintain London’s attractiveness as a listing destination for some of the world’s largest companies, providing high-skill, high-paying jobs for Brits, and increasing revenue for the public purse.
The review will consider whether the EU-derived MiFID II unbundling rules have contributed to the decline in the quality and quantity of UK research and provide recommendations on how to improve the research landscape in the UK. Lord Hill and Ron Kalifa’s past reviews have shown that the perception of the US having a cluster of expert analysts contributes to a valuation gap between the US and the UK.
Rachel Kent’s expertise and knowledge of the sector and the regulatory framework make her the ideal candidate to lead the Investment Research Review. Rachel is also a client relationship partner for the Government and leads the work for HM Treasury following Hogan Lovell’s appointment as their main legal advisor on financial services. Additionally, she sits on TheCityUK’s International Regulatory Strategy Group (IRSG) and regularly publishes papers on Hogan Lovells’ website about regulatory reform.
In conclusion, the Investment Research Review’s findings will be instrumental in the government’s plan to grow the economy and become a leading technology superpower. Addressing the issues surrounding the quality and quantity of investment research in the UK will ensure that London maintains its unique attractiveness as a listing destination and supports a broader ecosystem providing high-skill, high-paying jobs for Brits up and down the country.
»UK Investment Research Review«
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