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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

Summary of UK Takeover Panel Practice Statement 36 (PS36): Unlisted share alternatives

PS36 provides guidance on how the Panel usually applies Takeover Code provisions relating to an unlisted share alternative to a cash offer (stub equity), emphasising that the Panel should be consulted at an early stage...more

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

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

New UK Listing Regime – now open for business

New Listing Rules come into force on 29 July 2024, implementing long-awaited reforms to the UK’s Listing Regime. The changes, which some have billed ‘radical’, form a critical component of the Government’s wider workstream to...more

FCA reviews disclosures of net changes to share capital

The FCA has recently completed a review of the way in which UK issuers disclose changes to their total voting rights to the market and the resulting effect on major shareholding notifications. ...more

FCA Policy Statement: improving climate-related disclosures by UK listed companies and clarification of existing climate-related...

Recent changes introduced by the Financial Conduct Authority (FCA) - On 21 December 2020, as we broke for Christmas, the FCA published new Listing Rule 9.8.6R(8) (LR) and guidance requiring commercial companies with a UK...more

UK equity capital markets and the COVID-19 response – Key legal and regulatory themes

For obvious reasons, the finer points of the functioning and regulation of the UK's capital markets and corporate governance are not necessarily at the forefront of the minds of legislators and policy makers while addressing...more

Corporate News – September 2018

A monthly newsletter covering topics of interest in the field of UK corporate law including mergers and acquisitions, listed companies, equity capital markets, corporate governance and general company law. ...more

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