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Securities Investment United Kingdom

A&O Shearman

FCA publishes final rules for firms operating public offer platforms

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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

UK Mansion House 2025: UK government supports digitisation of UK shareholding framework

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The Digitisation Taskforce has published its final report, recommending a three-step plan to modernise the UK shareholding framework by eliminating paper share certificates and transitioning to a fully digitised and...more

White & Case LLP

FCA’s final rules for PISCES: London’s new private share trading market

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The Financial Conduct Authority ("FCA") has published its final rules for the Private Intermittent Securities and Capital Exchange System ("PISCES") – London's new private company share trading platform. The proposals are a...more

Ropes & Gray LLP

Duty-Free: The New UK Single Tax on Securities

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The replacement of the UK’s paper-based stamp duty (SD), and its electronic cousin stamp duty reserve tax (SDRT), with a unified and modernised single tax on securities transactions re-emerged this week as a Government...more

A&O Shearman

UK Dormant Assets Parliamentary Review 2025 published

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The UK government's Department for Culture, Media and Sport has published the Dormant Assets Parliamentary Review for the period from February 2022 to February 2025 in accordance with the Dormant Assets Act 2022. The review...more

A&O Shearman

UK Financial Conduct Authority publishes consultation on the regulatory framework for PISCES

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The U.K. Financial Conduct Authority has published a consultation on the regulatory framework for the Private Intermittent Securities and Capital Exchange System (PISCES), the proposed new platform for trading shares in...more

A&O Shearman

HM Treasury Publishes Consumer Composite Investments (Designated Activities) Regulations 2024

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The Regulations: (i) replace assimilated law in relation to the Packaged Retail and Insurance-based Investment Products Regulation, establishing a new legislative framework for the regulation of Consumer Composite...more

A&O Shearman

UK High Court Finds London Capital & Finance Plc to be a Ponzi Scheme

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The U.K. High Court has handed down judgement in the civil case of London Capital & Finance Plc (in administration) and others v Michael Andrew Thomson and others [2024] EWHC 2894 (Ch). London Capital & Finance was an...more

A&O Shearman

Draft UK Consumer Composite Investments (Designated Activities) Regulations 2024 Published

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The draft Consumer Composite Investments (Designated Activities) Regulations 2024 have been published, together with an explanatory memorandum. The Regulations establish a proposed new legislative framework for the regulation...more

A&O Shearman

UK Conduct Authority Clarifies Forbearance for Investment Trust Disclosure Requirements Under PRIIPs Regulation

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The updated forbearance statement provides great clarity on the implication of the forbearance as regards compliance by firms with other rules and regulations, including the Consumer Duty and communicating to consumers. The...more

A&O Shearman

New UK Securitization Regime Set to Start on November 1, 2024

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The Securitisation (Amendment) Regulations 2024 were made on May 22, 2024 and come into force for the most part on November 1, 2024. The Amending Regulations supplement the new U.K. securitization regime established under the...more

A&O Shearman

Panel Proposes Narrowing The Scope Of Companies Subject To The Code

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On 24 April 2024, the UK Takeover Panel published PCP 2024/1 ("PCP 2024/1"), in which it is consulting on a significant narrowing of the types of companies that will be subject to the Takeover Code (the “Code”) - i.e., as...more

A&O Shearman

SFC and HKMA’s joint circular on streamlined approach for dealing with sophisticated professional investors (SPIs)

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Wealth managers and advisers, and distributors in relation to non-retail investment products, for example interests in private equity funds or hedge funds, sustainability linked bonds and other private capital related...more

Paul Hastings LLP

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

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A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the...more

A&O Shearman

Stricter UK Financial Promotion Rules Going Ahead

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The U.K. Financial Conduct Authority has published its final Policy Statement and Rules on financial promotions of high-risk investments and firms approving financial promotions. Many of these changes address or build upon...more

A&O Shearman

UK Conduct Authority Consults on Wide-Ranging Change to Financial Promotion Rules

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The U.K. Financial Conduct Authority has launched a consultation on proposed changes to the financial promotion rules. The proposals range from rules relating to the approval by authorized firms of financial promotions of...more

A&O Shearman

National Security and Investment Bill: Potential Impact on Secured Financings of UK Infrastructure Assets

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Across Europe, governments are seeking to impose increased controls on foreign investment in assets that are important to the security of a country. In a clear example of this trend, the U.K. Government introduced the...more

Perkins Coie

Quarterly Investment Update - 3rd. Quarter 2016

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Investor confidence rebounded in the third quarter immediately following Brexit, driving the S&P 500 to new highs. Comments by the Fed in early September stirred up some volatility and share prices slipped backwards. Not...more

Morrison & Foerster LLP

Ten Key Legal Issues to Consider When Moving Stateside

Stateside - Even before the uncertainties following the Brexit referendum result, a move to the U.S. was an attractive proposition for high growth UK businesses. Common language, similar culture, access to capital and a...more

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