* Suggests probationary period for companies seeking to joinUK main market
* Says it was not allowed enough time to shift from"private, Kazakh-based company"
* UK parliamentarians have called for evidence from UK-basedoil, mining industry
* ENRC, Bumi among companies expected to be in focus
LONDON, Oct 23 (Reuters) - Britain should considerintroducing a "quarantine" period for foreign companies seekingto list in the country to allow them time to adapt to thetougher scrutiny of London's main market, Kazakh miner ENRC told UK parliamentarians.
ENRC floated in London in late 2007 and is now set to delistafter a buyout by its founders, but its years as a FTSE 100heavyweight have been marred by acrimonious boardroom rows,corruption investigations and a poorly timed acquisition spree.
In a submission to the UK parliament's Committee forBusiness, Innovation and Skills, published this week, ENRC saidthat it was not given time to evolve from a "private,Kazakh-based company", and that its experience could put offothers.
"We respectfully suggest that if London wishes to maintain aprominent role in attracting future London listings by foreigncompanies, it should consider introducing a quarantine period toallow a company to evolve with a degree of reputationalprotection," ENRC said in the document.
ENRC, currently being investigated by the Serious FraudOffice, gave no details on the probationary period it envisages,but compared it in the submission to some companies' movesthrough to the main listing after spending time in London'sgrowth market, AIM, where requirements are less stringent.
"Foreign companies will observe the lengths that ENRC hasgone to in order to comply and the significant financialinvestment that has been made and then observe how the companyhas been scrutinised," the company said.
British lawmakers are investigating the UK-based mining andoil sector, with a probe expected to touch on areas includingtransparency and disclosure after shareholder battles andcorruption investigations at mining companies like ENRC haveleft investors nursing heavy losses.
Written submissions had been due by the end of September,and a full inquiry with oral evidence is set to follow.
According to a study by UK Trade & Investment quoted bymining group BHP Billiton in its submission, UK-listedmining companies had a total market capitalisation of 265billion pounds ($430 billion) in 2012, more than any otherfinancial market in the world.
Britain's financial regulator is already considering somechanges to listing rules beyond the resources sector,particularly for firms which, like ENRC and Bumi, havecontrolling shareholders. The Association of British Insurers,whose members manage nearly $3 trillion of assets, has calledfor more protection for minority investors.
ENRC shares have dropped more than 80 percent from their2010 peak, and the company is now set to delist within weeksafter a successful buyout by its founders. It was demoted fromthe FTSE 100 last month.
Campaigners at transparency group Global Witness have calledfor UK authorities to block the delisting or prevent associatedtransactions until the SFO inquiry is complete.