UK Listing Rules - Revision history

Doug: Improve linking.

2025-04-27T14:56:36Z

Improve linking.

← Older revision		Revision as of 14:56, 27 April 2025
Line 58:		Line 58:
	== See also ==		== See also ==
	* [[Alternative Investment Market]] (AIM)		* [[Alternative Investment Market]] (AIM)
			* [[Bond]]
	* [[Commercial company]]		* [[Commercial company]]
	* [[Consumer protection]]		* [[Consumer protection]]

Doug: Expand definition.

2025-04-27T14:51:52Z

Expand definition.

← Older revision		Revision as of 14:51, 27 April 2025
Line 10:		Line 10:


	~~The UK Listing Rules~~ are ~~not mandatory for Alternative Investment Market (AIM) companies~~.		Many listing rules are about full and simultaneous disclosure to the whole market of important information about the listed company.

	However, some AIM-listed companies, and other companies, choose to follow the UK Listing Rules on a voluntary basis.		Especially any information that might influence the market price of the listed company's shares or bonds.


			The full UK Listing Rules are not mandatory for Alternative Investment Market (AIM) companies.

			However, some AIM-listed companies, and other companies, choose to follow the full UK Listing Rules on a voluntary basis.

Doug: Update for IFRS Foundation taking over TCFD's work.

2025-03-02T13:14:53Z

Update for IFRS Foundation taking over TCFD's work.

← Older revision		Revision as of 13:14, 2 March 2025
Line 62:		Line 62:
	* [[Financial Conduct Authority]] (FCA)		* [[Financial Conduct Authority]] (FCA)
	* [[Friction]]		* [[Friction]]
			* [[IFRS Foundation]]
	* [[Initial public offering ]]		* [[Initial public offering ]]
	* [[Introduction]]		* [[Introduction]]

Doug: Remove surplus text.

2024-11-02T01:35:43Z

Remove surplus text.

← Older revision		Revision as of 01:35, 2 November 2024
Line 1:		Line 1:
	1. ''Treasury - corporate finance - listed companies - UK - London Stock Exchange (LSE) - Financial Conduct Authority (FCA).''		''Treasury - corporate finance - listed companies - UK - London Stock Exchange (LSE) - Financial Conduct Authority (FCA).''

	(UKLR).		(UKLR).
Line 49:		Line 49:

	:''ACT blog, 19 February 2021 - Naresh Aggarwal, Associate Director, Policy & Technical.''		:''ACT blog, 19 February 2021 - Naresh Aggarwal, Associate Director, Policy & Technical.''


	~~2. ''Treasury - corporate finance - listed companies - other jurisdictions.''~~

	~~Parallel rules apply in other jurisdictions and for other stock exchanges, which may differ substantially in their details.~~

Doug: Add link.

2024-09-16T11:26:01Z

Add link.

← Older revision		Revision as of 11:26, 16 September 2024
Line 63:		Line 63:
	* [[De-listing]]		* [[De-listing]]
	* [[Disclosure Guidance and Transparency Rules]] (DTR)		* [[Disclosure Guidance and Transparency Rules]] (DTR)
			* [[Engagement]]
	* [[Equity]]		* [[Equity]]
	* [[Financial Conduct Authority]] (FCA)		* [[Financial Conduct Authority]] (FCA)
Line 94:		Line 95:
	*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]		*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]
	*[https://cytecsolutions.com/what-are-the-major-changes-to-the-uks-listing-rules/ What are the major changes to the UK's Listing Rules - cytec]		*[https://cytecsolutions.com/what-are-the-major-changes-to-the-uks-listing-rules/ What are the major changes to the UK's Listing Rules - cytec]

	~~[[Category:Accounting,_tax_and_regulation]]~~
	~~[[Category:Financial_products_and_markets]]~~
	~~[[Category:Identify_and_assess_risks]]~~
	~~[[Category:The_business_context]]~~

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Add resource.

2024-08-21T11:10:48Z

Add resource.

← Older revision		Revision as of 11:10, 21 August 2024
Line 93:		Line 93:
	*[https://www.fca.org.uk/news/press-releases/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets FCA overhauls listing rules to boost growth and innovation on UK stock markets - FCA press release - 11 July 2024]		*[https://www.fca.org.uk/news/press-releases/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets FCA overhauls listing rules to boost growth and innovation on UK stock markets - FCA press release - 11 July 2024]
	*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]		*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]
			*[https://cytecsolutions.com/what-are-the-major-changes-to-the-uks-listing-rules/ What are the major changes to the UK's Listing Rules - cytec]

			[[Category:Accounting,_tax_and_regulation]]
			[[Category:Financial_products_and_markets]]
			[[Category:Identify_and_assess_risks]]
			[[Category:The_business_context]]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Mend link.

2024-08-19T14:59:46Z

Mend link.

← Older revision		Revision as of 14:59, 19 August 2024
Line 62:		Line 62:
	* [[Corporate finance]]		* [[Corporate finance]]
	* [[De-listing]]		* [[De-listing]]
	* [[Disclosure and Transparency Rules]]		* [[Disclosure Guidance and Transparency Rules]] (DTR)
	* [[Equity]]		* [[Equity]]
	* [[Financial Conduct Authority]] (FCA)		* [[Financial Conduct Authority]] (FCA)

Doug: Add links.

2024-08-19T12:08:25Z

Add links.

← Older revision		Revision as of 12:08, 19 August 2024
Line 59:		Line 59:
	* [[Alternative Investment Market]] (AIM)		* [[Alternative Investment Market]] (AIM)
	* [[Commercial company]]		* [[Commercial company]]
			* [[Consumer protection]]
	* [[Corporate finance]]		* [[Corporate finance]]
	* [[De-listing]]		* [[De-listing]]
Line 67:		Line 68:
	* [[Initial public offering ]]		* [[Initial public offering ]]
	* [[Introduction]]		* [[Introduction]]
			* [[Investor protection]]
	* [[Jurisdiction]]		* [[Jurisdiction]]
	* [[Listed company]]		* [[Listed company]]
Line 76:		Line 78:
	* [[Private placement]]		* [[Private placement]]
	* [[Related party transaction]]		* [[Related party transaction]]
			* [[Securities Investor Protection Corporation]]
	* [[Security]]		* [[Security]]
	* [[Share]]		* [[Share]]
Line 90:		Line 93:
	*[https://www.fca.org.uk/news/press-releases/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets FCA overhauls listing rules to boost growth and innovation on UK stock markets - FCA press release - 11 July 2024]		*[https://www.fca.org.uk/news/press-releases/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets FCA overhauls listing rules to boost growth and innovation on UK stock markets - FCA press release - 11 July 2024]
	*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]		*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]

	~~[[Category:Accounting,_tax_and_regulation]]~~
	~~[[Category:Financial_products_and_markets]]~~
	~~[[Category:Identify_and_assess_risks]]~~
	~~[[Category:The_business_context]]~~

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Create page - source - linked pages.

2024-08-04T22:02:31Z

Create page - source - linked pages.

New page

1. ''Treasury - corporate finance - listed companies - UK - London Stock Exchange (LSE) - Financial Conduct Authority (FCA).''

(UKLR).

The UK Listing Rules are regulations which apply to all companies with a Main Market listing - or seeking a Main Market listing - on the London Stock Exchange.

The UK Listing Rules are published by the UK's Financial Conduct Authority (FCA).

Listing rules seek to strike an appropriate balance between the benefits of investor protection, and the related reporting and administrative burdens on listed companies.

The UK Listing Rules are not mandatory for Alternative Investment Market (AIM) companies.

However, some AIM-listed companies, and other companies, choose to follow the UK Listing Rules on a voluntary basis.

:'''''FCA removes voting requirements for some listed company transactions'''''

:"The FCA has set out a simplified listings regime... for companies seeking to list their shares in the UK.

:The overhaul of listing rules better aligns the UK’s regime with international market standards. It also ensures investors will have the information they need to make decisions about their money, while maintaining appropriate investor protections to hold the management of the companies they co-own to account.

:The new rules remove the need for votes on significant or related party transactions and offer flexibility around enhanced voting rights. Shareholder approval for key events, like reverse takeovers and decisions to take the company’s shares off an exchange, is still required...

:The FCA has been clear that the new rules involve allowing greater risk, but believes the changes set out will better reflect the risk appetite the economy needs to achieve growth."

:''FCA press release - 11 July 2024.''

:'''''Why we are changing the listing rules'''''

:"The new rules aim to encourage prospective issuers to choose a UK listing by streamlining our rules and removing our ‘premium’ and ‘standard’ listing segments in favour of a new commercial companies category for equity shares.

:Our changes are also designed to remove frictions to growth once companies are listed, while continuing to place an emphasis on disclosure that puts information in the hands of investors to inform their investment decisions.

:These final rules follow extensive engagement, feedback, and cost-benefit analysis of our original proposals."

:''FCA - 11 July 2024.''

:'''''Climate risk disclosures'''''

:"The Financial Conduct Authority (FCA) implemented a new Listing Rule applicable to premium listed commercial companies designed to help users understand how they are managing climate-related risks.

:The new Rule (LR 9.8.6(8)) does this by requiring disclosures in annual reports consistent with the recommendations and recommended disclosures of the Task Force on Climate-related Disclosures (TCFD).

:The Rule will apply to accounting periods beginning on or after 1 January 2021 with the first annual financial reports under the new rule published in the spring of 2022."

:''ACT blog, 19 February 2021 - Naresh Aggarwal, Associate Director, Policy & Technical.''

2. ''Treasury - corporate finance - listed companies - other jurisdictions.''

Parallel rules apply in other jurisdictions and for other stock exchanges, which may differ substantially in their details.

== See also ==
* [[Alternative Investment Market]] (AIM)
* [[Commercial company]]
* [[Corporate finance]]
* [[De-listing]]
* [[Disclosure and Transparency Rules]]
* [[Equity]]
* [[Financial Conduct Authority]] (FCA)
* [[Friction]]
* [[Initial public offering ]]
* [[Introduction]]
* [[Jurisdiction]]
* [[Listed company]]
* [[Listing]]
* [[Listing particulars]]
* [[London Stock Exchange]]
* [[Main Market]]
* [[Premium Listing]]
* [[Private placement]]
* [[Related party transaction]]
* [[Security]]
* [[Share]]
* [[Significant transaction]]
* [[Standard Listing]]
* [[Stock]]
* [[Stock exchange]]
* [[Task Force on Climate-related Financial Disclosures]]
* [[The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022]] - UK
* [[Treasury]]

==Other resources==
*[https://www.fca.org.uk/news/press-releases/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets FCA overhauls listing rules to boost growth and innovation on UK stock markets - FCA press release - 11 July 2024]
*[https://www.fca.org.uk/publications/policy-statements/ps24-6-primary-markets-effectiveness-review-feedback-cp23-31-final-uk-listing-rules UK Listing Rules (UKLR) effective from 29 July 2024 - PS24/6: Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules - FCA]

[[Category:Accounting,_tax_and_regulation]]
[[Category:Financial_products_and_markets]]
[[Category:Identify_and_assess_risks]]
[[Category:The_business_context]]

[[Category:Accounting,_tax_and_regulation]]
[[Category:Financial_products_and_markets]]
[[Category:Identify_and_assess_risks]]
[[Category:The_business_context]]