Listed Investment Companies (Classification etc) Bill [HL]

Key Points

• Defines what counts as a listed investment company and outlines classification categories and their defining features.
• Establishes governance, reporting and disclosure expectations to improve transparency for investors.
• Clarifies how listed investment companies differ from other investment vehicles and sets criteria for classification.
• Provides regulatory oversight provisions to ensure compliance with the classification framework (including roles for relevant authorities).
• Includes connected purposes that enable related regulations or amendments to existing financial services laws.

Progress

The bill is at the second reading in the House of Commons. It originated in the Lords and, after this stage, will move on to committee scrutiny and subsequent readings, before returning to the Lords for consideration of amendments.