Alex Parkhouse on Securities Regulation

UK Equity Capital Markets: New UK public offers and admissions to trading regime in force in early 2026

On 15 July 2025, the Financial Conduct Authority (FCA) published its final rules for the new UK public offers and admissions to trading regime which will take effect on 19 January 2026, replacing the current EU-derived...more

7/18/2025 / Capital Markets , Disclosure Requirements , Equity , Financial Conduct Authority (FCA) , Listing Rules , New Regulations , Public Offerings , Regulatory Reform , Securities Regulation , UK

PISCES – FCA publishes its final rules and welcomes applications from market operators

The Financial Conduct Authority (FCA) has released its final rules regarding the Private Intermittent Securities and Capital Exchange System (known as PISCES), the new platform designed to host intermittent secondary trading...more

6/17/2025 / Disclosure Requirements , Final Rules , Financial Conduct Authority (FCA) , Investors , New Regulations , Private Company Shares , Securities Regulation , Trading Platforms , UK

SEC requests public comment on the definition of foreign private issuer

On June 4, the SEC published a “concept release” seeking public comment on potential amendments to the definition of “foreign private issuer” (FPI) under the Securities Act and the Exchange Act. The SEC issued the release in...more

6/12/2025 / Capital Markets , Financial Services Industry , Foreign Private Issuers , Proposed Amendments , Proposed Rules , Public Comment , Regulatory Reform , Rulemaking Process , Securities and Exchange Commission (SEC) , Securities Regulation

UK Capital Markets: London Stock Exchange launches market discussion on the future of AIM

On 7 April 2025, the London Stock Exchange (LSE) published a discussion paper ‘Shaping the Future of AIM’ (Discussion Paper) inviting feedback on proposals to develop the overall AIM market framework and update the AIM Rules...more

5/1/2025 / AIM , Capital Markets , Corporate Governance , Investment , London Stock Exchange , Publicly-Traded Companies , Regulatory Reform , Regulatory Requirements , Securities Regulation , Shareholders

The SEC’s Crypto Road Trip Gathers Momentum - Crypto Task Force begins clarifying security status and outlining registered...

Three months into the life of the U.S. Securities and Exchange Commission’s Crypto Task Force, the SEC staff has begun taking tangible steps to define its evolving approach to the regulation of digital assets. In a series of...more

4/25/2025 / Cryptoassets , Cryptocurrency , Digital Assets , Disclosure Requirements , Investment Contract , Regulatory Requirements , Rulemaking Process , Securities and Exchange Commission (SEC) , Securities Regulation , Stablecoins

Cross-border SEC spotlight: Key updates for non-U.S. companies

Welcome to the inaugural edition of our Hogan Lovells Cross-border SEC spotlight: Key updates for non-U.S. companies, a dedicated resource for non-U.S. companies listed or exploring a listing in the United States. This...more

4/4/2025 / Cross-Border , Disclosure Requirements , Financial Services Industry , Foreign Private Issuers , Publicly-Traded Companies , Regulatory Requirements , Reporting Requirements , Securities and Exchange Commission (SEC) , Securities Regulation

SEC staff expands availability of nonpublic registration statement review process

On March 3, the SEC’s Division of Corporation Finance announced that it has expanded the availability of the nonpublic review process for registration statements under which issuers may voluntarily submit draft Securities Act...more

3/12/2025 / Disclosure Requirements , Filing Requirements , Publicly-Traded Companies , Registration Statement , Regulatory Requirements , Reporting Requirements , Securities and Exchange Commission (SEC) , Securities Exchange Act , Securities Regulation

SEC’s “Crypto Road Trip” Begins after a Week of Executive Action Crypto - Task Force priorities outlined: regulatory clarity on...

On February 4, 2025, U.S. Securities and Exchange Commission (“SEC”) Commissioner Hester Peirce, chair of the SEC’s new Crypto Task Force, signaled a major shift in the SEC’s approach to digital asset regulation in a public...more

2/12/2025 / Blockchain , Cryptoassets , Digital Assets , Enforcement Actions , FinTech , Regulation , Regulatory Agenda , Securities and Exchange Commission (SEC) , Securities Regulation

FCA consults on arrangements for PISCES sandbox

On 17 December 2024, the UK Financial Conduct Authority (the “FCA”) published its latest consultation paper on the ‘Private Intermittent Securities and Capital Exchange System’ (“PISCES”) (the “Paper”) (which is available...more

1/9/2025 / Capital Markets , Disclosure Requirements , Financial Conduct Authority (FCA) , Financial Institutions , Financial Services Industry , Private Equity , Private Equity Funds , Regulatory Requirements , Securities Regulation , UK

Alex Parkhouse

Hogan Lovells

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