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Capital Markets Regulatory Reform United Kingdom

Paul Hastings LLP

UK Public Offers and Admissions to Trading Regime

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The principal regulations governing offers of securities to the public and admissions of securities to trading on regulated markets in the United Kingdom, including the requirements for a prospectus, are contained in the UK...more

A&O Shearman

FCA publishes final rules on POATR framework and UK Listing Rules

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published final policy statement (PS25/9) to implement the new Public Offers and Admissions to Trading Regulations 2024 (POATRs), which will replace the UK Prospectus Regulation....more

A&O Shearman

FCA publishes final rules for firms operating public offer platforms

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published final policy statement PS25/10, setting out the final rules for the new public offer platforms (POP) regime. This follows consultations in July 2024 and January of this...more

A&O Shearman

Mansion House: Leeds Reforms

A&O Shearman on

HM Treasury has published a press release confirming a significant package of measures aimed at making the UK the prime destination for financial services by 2035, referred to as the "Leeds Reforms"...more

A&O Shearman

Mansion House: FCA statement on market reforms and what's to come

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a statement on its work to date reforming the UK capital markets, and what lies ahead in terms of consultations and developments expected later this year and in 2026. The...more

A&O Shearman

Mansion House: Financial Services Growth and Competitiveness Strategy

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The UK government has published its Financial Services Growth and Competitiveness Strategy, a ten-year plan to drive growth and competitiveness in the UK financial services sector. The strategy follows a call for evidence...more

Goodwin

Further Reform for UK Private Fund Managers: The Government’s Road Map for Growth in Financial Services

Goodwin on

On 15 July 2025, Chancellor of the Exchequer Rachel Reeves delivered her Mansion House 2025 speech unveiling the Leeds Reforms, a programme for financial services reforms to drive investment and growth in the sector....more

A&O Shearman

FCA plans to modernise client categorisation rules

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The UK Financial Conduct Authority has announced plans to review its client categorisation rules to unlock more investment opportunities for wealthy investors and support capital markets...more

Hogan Lovells

UK Mansion House 2025: What this means for digital assets and tokenisation

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The UK government’s latest communications on 15 July 2025 in connection with the Chancellor’s annual Mansion House speech, and the launch of its Financial Services Growth and Competitiveness Strategy, signals the government’s...more

Hogan Lovells

UK Mansion House 2025 and Financial Services Growth and Competitiveness Strategy: summary of key initiatives

Hogan Lovells on

The Chancellor of the Exchequer has delivered her second Mansion House speech and announced the “Leeds Reforms” in conjunction with publication of the awaited Financial Services Growth and Competitiveness Strategy and related...more

Latham & Watkins LLP

Leeds Reforms Set UK Government Agenda for Financial Services

Latham & Watkins LLP on

On 15 July 2025, the Chancellor of the Exchequer, Rachel Reeves, delivered her second Mansion House speech, having earlier that day announced the so-called Leeds Reforms to “position the UK as the number one destination for...more

Hogan Lovells

UK’s Financial Services Growth and Competitiveness Strategy: Welcome news for insurers

Hogan Lovells on

The UK government’s Financial Services Growth and Competitiveness Strategy published on 15 July 2025, identifies insurance/reinsurance as one of the sectors with ‘priority growth opportunities’ and as such the Strategy sets...more

Hogan Lovells

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

Hogan Lovells on

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

Mayer Brown

FAQs – What US Clients Need to Know About PISCES – A New Secondary Private Stock Market in the UK

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WHAT ARE THE KEY DRIVERS FOR REFORM? The UK Treasury ("HMT") noted the following as drivers for reform: A key challenge for private companies is that, at early stages in their growth, there are no standardised ways...more

A&O Shearman

FCA publishes final rules for public offers and admission to trading regime

A&O Shearman on

On July 15, 2025, the Financial Conduct Authority (FCA) published its Policy Statement PS25/9 setting out the final rules to implement the Public Offers and Admission to Trading Regulations 2024 (POATRs). These rules, which...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Public Markets Monitor – Q2 2025

AIM Consultation Paper - 7 April 2025 / LSE - The London Stock Exchange (LSE) initiated a significant consultation on the Alternative Investment Market (AIM). The discussion paper sought feedback from market participants...more

A&O Shearman

UK Government publishes 10-year industrial strategy plan

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The UK Government has published a policy paper outlining its industrial strategy. The strategy centres around eight priority sectors (the IS-8), including financial services. The UK government's ambition is to establish the...more

Morgan Lewis

UK FCA Publishes PISCES Sourcebook, Completing the Regulatory Regime for This New Form of Private Market

Morgan Lewis on

The UK Financial Conduct Authority recently issued the PISCES Sourcebook, finalizing the regulatory regime for this new type of private capital market. On 10 June 2025, the UK Financial Conduct Authority (FCA) published...more

Orrick, Herrington & Sutcliffe LLP

PISCES: Sandbox

RECAP Private Intermittent Securities and Capital Exchange System (PISCES) Regulations (SI 2025/583) are now in force. PISCES is not a stock market; it is a regulatory sandbox for those market participants who want to set up...more

Mayer Brown

UK Regulatory Update - Asset Management Sector - Quarterly Newsletter Q1 2025

Mayer Brown on

Mayer Brown’s UK Regulatory Update is a quarterly newsletter for the asset management sector. In this edition, covering Q1 2025, we look at consultations relating to the UK AIFMD framework, reporting and notification...more

A&O Shearman

New FCA webpages on PISCES

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The UK Financial Conduct Authority (FCA) has published two new webpages on the Private Intermittent Securities and Capital Exchange Systems (PISCES) sandbox, a new type of trading platform designed to enable intermittent...more

BCLP

UK Corporate Briefing - June 2025

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Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss...more

A&O Shearman

Ninth Commencement Regulations under Financial Services and Markets Act 2023 published

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The Ninth Commencement Regulations–the Financial Services and Markets Act 2023 (Commencement No. 9) Regulations 2025–under the Financial Services and Markets Act 2023 (FSMA 2023) were made and have been published. The Ninth...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Finalises Rules Providing Fund Managers a Joint Payment Option for Research and Execution Services

On 9 May 2025, the Financial Conduct Authority (FCA) issued policy statement PS 25/4, setting out, and bringing into force, final rules on investment research payment options for fund managers. The new rules follow the...more

A&O Shearman

FCA Handbook Notice 129

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The UK Financial Conduct Authority (FCA) has published Handbook Notice 129 which sets out changes to the classes of derivatives subject to the derivatives trading obligation (DTO), following policy statement PS25/2 published...more

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