The HKMA and the SFC permit relaxation of suitability and other regulatory requirements while dealing with high-net-worth and experienced investors. By Simon Hawkins and Adrian Fong On 28 July 2023, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint circular (Joint Circular) outlining a new streamlined approach for … Continue Reading
The FCA reveals its initial thinking on the regulatory framework for primary multilateral trading facilities and public offer platforms. By Chris Horton, James Inness, Anna Ngo, and Johannes Poon On 13 July 2023, the FCA published its fifth and sixth engagement papers to solicit discussion and feedback on the regulation of public offer platforms and … Continue Reading
The Review recommends scrapping research unbundling, but also proposes a range of other changes to the UK research landscape. By Rob Moulton, Chris Horton, Sean Wells, Charlotte Collins, and Johannes Poon On 10 July 2023, HM Treasury published the final report produced by the independent UK Investment Research Review (Review). The Review was launched on … Continue Reading
FCA takes an innovative approach to obtain feedback from industry and stakeholder groups. By Chris Horton, James Inness, Anna Ngo, and Johannes Poon In May 2023, the FCA launched a process of engagement and dialogue on how the UK’s future prospectus regime could operate. The FCA’s first thematic engagement papers, published on 18 May, aim … Continue Reading
Proposals dramatically reduce the regulatory burden on listed companies. By James Inness, Anna Ngo, and Johannes Poon On 3 May 2023, the FCA published a consultation paper CP23/10 which sets out a blueprint for changes to the UK listing regime. The key reform proposed is that the existing premium and standard listing segments would be … Continue Reading
The tone of the Call for Evidence indicates the controversial research unbundling rules could be primed for reform. By Rob Moulton, Gary Whitehead, and Charlotte Collins On 3 April 2023, HM Treasury published a Call for Evidence as the first step in the independent review of investment research and its contribution to the competitiveness of … Continue Reading
FCA chief executive’s speech indicates an exciting transition to a lighter regime and a true single listing segment. By James Inness, Anna Ngo, and Johannes Poon On 29 March 2023, FCA Chief Executive Nikhil Rathi delivered a speech at the Global Investment Management Summit on the topic “Reforming our capital markets ecosystem”. He announced that … Continue Reading
The updated Statement of Principles will have an immediate impact on UK listed companies, providing increased flexibility to undertake larger non-pre-emptive capital raisings. By James Inness, Anna Ngo, and Johannes Poon On 4 November 2022, the Pre-Emption Group (PEG), a UK body which represents listed companies, investors and intermediaries, issued its updated Statement of Principles … Continue Reading
A reminder of the ongoing reforms to implement recommendations from the Lord Hill and Kalifa Reviews. By James Inness, Anna Ngo, and Johannes Poon The outcome of the UK Secondary Capital Raising Review, launched on 12 October 2021 to improve further capital raising processes for UK publicly traded companies, was published by HM Treasury on … Continue Reading
The landmark UK Secondary Capital Raising Review Report takes a holistic approach in making bold and comprehensive recommendations to improve the UK secondary capital raising processes and ecosystem. By James Inness, Anna Ngo, Ryan Benedict, and Johannes Poon On 19 July 2022, HM Treasury published the UK Secondary Capital Raising Review Report (the Report) that … Continue Reading
