If you wanted to show that London is open for business after Brexit, there are better ways to do it than to give the government vague powers over who is allowed to list on its markets. Unfortunately, that seems to be exactly what has happened without much of the City even realising it.

You may recall that in May, Rishi Sunak said he planned to combat the scourge of dirty money in London’s financial markets by issuing a consultation to give the government powers to block IPOs where the companies involved posed a threat to national security.