Proposed new rules to encourage companies to list in the UK and other market improvements set out by financial watchdog

Summary:

The Financial Conduct Authority (FCA) has published detailed proposals to reform the UK's listing regime, aiming to make it more accessible, effective, and competitive. Key changes include:

Simplifying the listing regime with a single category and streamlined eligibility and ongoing requirements
Introducing a disclosure-based regime, providing investors with sufficient information to influence company behavior and make informed investment decisions
Retaining sponsor scrutiny of related party transactions, with shareholder approval for key events like reverse takeovers and delisting
Proposing consolidated tape for bonds, providing investors with trade and sales data quicker and more cheaply
Enhancing transparency in bond and derivative markets by publishing more information in real-time
Strengthening investor protections, including for Special Purpose Acquisition Companies (SPACs)

The proposals are part of the FCA's effort to strengthen the UK's capital markets, support competitiveness and growth, and make the UK a more attractive destination for companies to raise capital. The consultation period for the proposals is now open, and the FCA invites feedback from all stakeholders before a final decision is made.