Ministerial statement made on precautionary power to block listings on national security grounds

Article summary

Economic Secretary to the Treasury, John Glen, has made a statement on the Economic Crime Plan. In his statement, Glen noted the government’s intention to ‘bring forward a precautionary power to block listings [on UK financial markets] on national security grounds’. The plan to bring forward this power comes after the Treasury considered that there are possible scenarios in which a proposed listing may give rise to national security concerns. Glen also stated that the Treasury will publish ‘a full consultation to inform the design of the power, which we expect to launch in early 2021’.