On 15 July 2025, the FCA published PS25/9 and PS25/10 outlining its final rules for the new Public Offers and Admissions to Trading regime, which will supersede the existing UK Prospectus Regulation from 19 January 2026. This...more
7/16/2025
/ Capital Markets ,
Climate Change ,
Corporate Financing ,
Corporate Governance ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Initial Public Offering (IPO) ,
Listing Rules ,
Prospectus ,
Public Offerings ,
Retail Investors ,
UK
On 10 June 2025, the FCA unveiled its final proposals for the Private Intermittent Securities and Capital Exchange System (PISCES), following a comprehensive consultation process. The proposals mark a significant step in the...more
Until recently, the UK and EU post-Brexit market abuse regimes remained substantially aligned. However, the passing of the EU Listing Act reforms in 2024 has meant that UK and EU MAR have started to diverge meaningfully for...more
5/12/2025
/ Capital Markets ,
Corporate Governance ,
Disclosure Requirements ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Financial Regulatory Reform ,
Insider Trading ,
Listing Standards ,
New Legislation ,
PDMR ,
Regulatory Reform ,
Reporting Requirements ,
Securities Regulation ,
UK
On 14 April 2025, the FCA published its updated regulatory initiatives grid, which sets out its regulatory pipeline — the first update since the new UK government came to power. The new grid outlines the expected timings of...more
The FCA is approaching its design of the world’s first regulated private/public crossover market with a “private plus” rather than a “public minus” mindset.
On 17 December 2024, the FCA launched a consultation on its...more
12/18/2024
/ Capital Markets ,
Consultation ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Investors ,
Private Investment Funds ,
Proposed Rules ,
Retail Investors ,
Sandbox ,
UK
FCA takes an innovative approach to obtain feedback from industry and stakeholder groups.
In May 2023, the FCA launched a process of engagement and dialogue on how the UK’s future prospectus regime could operate....more
FCA chief executive’s speech indicates an exciting transition to a lighter regime and a true single listing segment. By James Inness, Anna Ngo, and Johannes Poon On 29 March 2023, FCA Chief Executive Nikhil Rathi delivered a...more
A reminder of the ongoing reforms to implement recommendations from the Lord Hill and Kalifa Reviews.
The outcome of the UK Secondary Capital Raising Review, launched on 12 October 2021 to improve further capital raising...more
The landmark UK Secondary Capital Raising Review Report takes a holistic approach in making bold and comprehensive recommendations to improve the UK secondary capital raising processes and ecosystem.
On 19 July 2022, HM...more
8/1/2022
/ Capital Markets ,
Capital Raising ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Information Reports ,
Initial Public Offering (IPO) ,
Prospectus ,
Publicly-Traded Companies ,
Secondary Markets ,
UK ,
UK Regulatory Reforms
Broad reform to listing regimes, growing ESG scrutiny, and increasing retail participation in fundraisings are among the areas to watch.
Last year was memorable for UK equity capital markets (ECM). The IPO market was at...more
1/21/2022
/ Annual Meeting ,
Capital Markets ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Foreign Direct Investment ,
Initial Public Offering (IPO) ,
Listing Rules ,
Listing Standards ,
Private Equity ,
Retail Investors ,
Special Purpose Acquisition Companies (SPACs) ,
UK
The expansion would include Shenzhen Stock Exchange and potentially European stock exchanges, and would permit overseas issuers to raise capital in China through CDR listings.
On 17 December 2021, the China Securities...more
1/18/2022
/ Capital Markets ,
China ,
China Securities Regulatory Commission (CSRC) ,
Corporate Issuers ,
EU ,
Global Depositary Receipts (GDRs) ,
Listing Rules ,
London Stock Exchange ,
Popular ,
Proposed Regulation ,
Shanghai Stock Exchange ,
UK