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Dec 12, 2024 | 
jdsupra.com | Danny Tricot
[co-author: James Michelson]Since the announcement of the UK government’s Edinburgh reforms to financial services in December 2022, which set out a large number of proposals aimed at making London the “world’s most innovative and competitive global financial centre”, the past two years have seen significant changes to the UK capital markets landscape, including: Overhauls of the UK Listing Rules and Prospectus Rules.
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Dec 3, 2024 | 
jdsupra.com | Justin Lau |Olivia Moul |Danny Tricot
On 14 November 2024, the UK government published a response to its consultation on creating a new regulated market to trade shares in private companies: the Private Intermittent Securities and Capital Exchange System (PISCES). The response sets out key features of the new framework, which will initially operate in a regulatory sandbox, alongside draft legislation.
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Jul 29, 2024 | 
lexology.com | Danny Tricot |Adam Howard |Justin Lau |Martin Katunar
On 29 July 2024, the new UK Listing Rules came into force. The new rules institute a simpler, more flexible, disclosure-based listing regime and are designed to place London on a competitive footing with other major international listing venues, particularly those in the US and the EU. In this briefing, we outline the key features of the reformed listing regime, focusing on the new equity shares (commercial companies) (ESCC) listing category.
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Jul 26, 2024 | 
uk.practicallaw.thomsonreuters.com | Danny Tricot |Justin Lau
On 26 July 2024, the Financial Conduct Authority (FCA) published its consultation paper setting out the new Public Offers and Admissions to Trading Regulations regime (POATRs), which would replace the UK Prospectus Regulation Rules (PRR) (CP24/12).
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Jul 17, 2024 | 
jdsupra.com | Adam Howard |Justin Lau |Danny Tricot
[co-author Martin Katunar]The Financial Conduct Authority (FCA) published the final Listing Rules, representing the most significant reform of the UK’s listing regime in over three decades, on 11 July 2024 following a period of extensive consultations. The new rules will replace the current listing regime on 29 July 2024. The final rules largely reflect the previous proposals set out in the FCA’s Consultation Paper CP23/31, which we described in our January 2024 market alert.
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Jul 16, 2024 | 
lexology.com | Danny Tricot |Adam Howard |Justin Lau |Martin Katunar
The Financial Conduct Authority (FCA) published the final Listing Rules, representing the most significant reform of the UK’s listing regime in over three decades, on 11 July 2024 following a period of extensive consultations. The new rules will replace the current listing regime on 29 July 2024. The final rules largely reflect the previous proposals set out in the FCA’s Consultation Paper CP23/31, which we described in our January 2024 market alert.
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Apr 25, 2024 | 
lexology.com | Danny Tricot |Gregory Norman |Azad Ali |Adam Howard |Justin Lau |Abigail Reeves | +2 more
In July 2023, the UK government published its findings from the Investment Research Review (Review) as part of the UK government’s Edinburgh Reforms.1 The Review made a number of recommendations to encourage research production and quality in the UK, which would in turn help increase activity in UK capital markets.
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Feb 7, 2024 | 
jdsupra.com | Azad Ali |Olivia Moul |Danny Tricot
Following a series of consultations, and as part of its wider overhaul of the UK’s financial services regime, in November 2023, the UK government published a draft statutory instrument that will replace existing European regulations on packaged retail and insurance-based investment products (PRIIPs) that were retained post-Brexit.
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Dec 18, 2023 | 
jdsupra.com | Philip M. Dear |Michelle Gasaway |Danny Tricot
Key Points Market uncertainty led some companies to delay or reconsider IPO plans in 2023, but strategic planning and advance preparation can better position companies to execute on opportunities in 2024. Despite the rise in interest rates, companies were able to remain agile in response to market opportunities by proactively analyzing their balance sheets and capital structures to successfully execute a significant number of debt transactions.
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Dec 13, 2023 | 
lexology.com | Michelle Gasaway |Danny Tricot |Adam Howard |Philip M. Dear
Key PointsMarket uncertainty led some companies to delay or reconsider IPO plans in 2023, but strategic planning and advance preparation can better position companies to execute on opportunities in 2024. Despite the rise in interest rates, companies were able to remain agile in response to market opportunities by proactively analyzing their balance sheets and capital structures to successfully execute a significant number of debt transactions.
