The chief executive of the Financial Conduct Authority has admitted meeting officials from Saudi Aramco before publishing plans to water down rules in a move intended to lure the $2tn (£1.5tn) stock market listing of the oil giant to London. Andrew Bailey told MPs that the meeting with officials from the Gulf kingdom’s state oil company – which is planning the world’s biggest ever flotation – took place in the early part of this year. In July the FCA launched its consultation on creating a new category for firms listing on the stock market that are controlled by a sovereign country. It has faced criticism that the ... (full story)