United Kingdom: Listing Rules & Flotation

This half-yearly briefing consolidates major developments in UK corporate law and regulation from January to June 2026, covering company law, contract law, M&A, listing regime...

The Financial Conduct Authority (FCA) has published a consultation paper (CP26/21) on the UK Listing Rules (UKLRs) for listed closed-ended investment funds in UKLR 11.

The Financial Conduct Authority is consulting on significant changes to UK Listing Rules for closed-ended investment funds, proposing new requirements around board independence, substantial shareholder influence, and investment manager fee structures. These modifications aim to strengthen governance protections for investment trusts, particularly when appointing new investment managers or making material changes to investment strategies.

The FCA has fined two former finance directors for their involvement in misleading statements being issued by Carillion plc.

The FCA has published final notices in respect of its enforcement action against two former finance directors of Carillion plc for breaches of the Listing Rules and UK Market Abuse Regulations (MAR).

The Financial Conduct Authority (FCA) has published its Quarterly Consultation Paper 50 (CP 25/35), which includes proposals that aim...

Welcome to the latest edition of our investment management update.

The FCA's Final Rules, effective 29 July 2024, overhaul the UK Listing Regime, simplifying disclosures, introducing flexible dual class shares, and easing requirements for controlling shareholders and SPACs. The revised regime consolidates listing segments into a flexible ESCC framework to boost growth and innovation. The FCA will review the regime in five years.

The FCA's Consultation Paper CP24/12, published on July 26, 2024, outlines significant changes to the UK prospectus regime. Key proposals include raising the threshold for prospectus requirements in secondary capital raisings from 20% to 75%, simplifying the issuance process, and introducing protected forward-looking statements. The consultation ends on October 18, 2024, with final rules expected by mid-2025.