On the 29th July the new listing rules came into effect after the FCA streamlined them to support a wider range of companies to issue their shares on a UK exchange and to increase opportunities for investors.
These rule changes came about as the result of extensive engagement across the market. They resulted in a simplified disclosure-based regime, putting the right information in the hands of investors so they can make their own informed decisions. At the same time the rules also uphold the appropriate investor protections to hold the management of the companies they co-own to account.
Following market engagement however a further package of measures has since been introduced as it has been recognised that the new rules are not suitable for all companies . In her speech to the Capital Markets Industry Taskforce conference on 6th September Sarah Pritchard, executive director of markets and international commented:
We concluded that a 'one size fits all' regulator-prescribed approach, written in 2024, would not provide sufficient flexibility for the range of companies who may wish to list. And risks becoming out of date very quickly.
She concluded her speech adding:
We’ve come a long way and as you know the journey isn't over yet.
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