FCA to detail whether or not it met ministers ahead of planned rule changes that could lure oil giant’s £1.5tn float to London

The Financial Conduct Authority is facing questions from MPs about whether political influence was behind proposed City rule changes that could lure the $2tn (£1.5tn) float of Saudi Aramco to London.

Andrew Bailey, the chief executive of the FCA, is being asked by the chairs of two powerful Commons committees whether there were any discussions between the City watchdog and ministers ahead of the consultation on the planned changes.

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