Regulatory Alerts2023-06-28
Added · Updated
CP23/10: Primary Markets Effectiveness Review – Feedback to DP22/2 and proposed equity listing rule reforms
The Financial Conduct Authority proposes replacing the premium and standard listing categories for commercial company equity shares with a single listing category. This reform removes eligibility requirements for a three-year financial track record and a clean working capital statement, while eliminating compulsory shareholder votes and circulars for significant transactions and related party transactions. The proposal introduces a more permissive approach to dual class share structures and modifies rules regarding controlling shareholder agreements to a comply or explain basis. Comments on these proposals are requested by 28 June 2023.
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