The new regime modernises the listing framework while maintaining robust standards to protect investors and ensure market integrity.
By Mark Austin, Chris Horton, James Inness, Anna Ngo, and Johannes Poon
On 11 July 2024, the FCA released the final rules for the new UK listing regime, which will take effect from 29 July 2024.
This new regime is a culmination of the reform journey that started with the Listing Review in 2021 and which modernises the listing framework while maintaining robust standards to protect investors and ensure market integrity. The overhaul represents a return to a disclosure-based approach to the listing regime, in particular in relation to significant transactions and controlling shareholders. The new rules are responsive to the twin imperatives of maintaining appropriate regulatory standards while designing a regime that accommodates the diverse needs of issuers and the asks of investors.