<h2>Introduction</h2>
The chief executive of the Financial Conduct Authority, Nikhil Rathi, addressed concerns regarding the recent trend of companies leaving the London stock exchange.

<h2>Context</h2>
Following the announcement by the fintech company Wise to shift its listing to the United States, Rathi responded to inquiries during a recent hearing of lawmakers.

<h2>Developments</h2>
Rathi stated, "I'm not hearing it's regulatory, I'm hearing it's much wider." He explained that the reasons for companies moving their listings extend beyond regulatory issues. Instead, he pointed to several contributing factors, including:

<ul>
    <li>A larger pool of capital available in the United States</li>
    <li>Low ownership levels of UK equities by pension funds</li>
    <li>Restrictions on executive pay in the UK</li>
</ul>

<h2>Conclusion</h2>
Overall, Rathi emphasized that the decision for firms to relocate is influenced by a combination of broader market conditions rather than regulatory constraints.