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ARTICLE · 18 MARCH 2024

Second Tranche Of Draft UK Listing Rules Published

Herbert Smith Freehills Kramer LLP
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The Financial Conduct Authority (FCA) has published a full draft of the new UK Listing Rules as part of its overhaul of the UK listing regime.

United KingdomCorporate/Commercial Law
Mike Flockhart
Mike Flockhart
Sarah Hawes
Sarah Hawes
Antonia Kirkby
Antonia Kirkby

The Financial Conduct Authority (FCA) has published a full draft of the new UK Listing Rules as part of its overhaul of the UK listing regime. The draft instrument includes the second tranche of rules that were referenced, but not set out, in its consultation paper CP 23/31.

CP 23/31 contained the FCA's proposals for a radical reset of the UK listing regime, with the introduction of a new single segment, the new "equity shares (commercial companies)" (ESCC) category, to replace the current premium and standard segments, with just one set of continuing obligations for normal commercial companies. For further information on the proposals, see our blog post here and our snapshot on ESCC Category here.

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