The Pre-Emption Group (PEG) has today published its first report monitoring the use of its updated Statement of Principles on the disapplication of pre-emption rights for UK listed companies.

FCA has published a transcript of an “Inside FCA” podcast on listing reform and primary market effectiveness.

Text of Clare Cole's speech of 6 February 2024 follows.

This SI replaces the Prospectus Regulation and creates a new framework for the offering of securities to the public and the admission of securities to trading in the UK.

Further to CP23/10, FCA has published detailed proposals for reforms, noting that it has kept the suggested change to a simplified listing regime with a single listing category, with streamlined eligibility and ongoing requirements.   Responses with regard to LR 8 proposals concerning sponsor competence are required by 16 February 2024, whilst responses concerning UKLR proposals regarding the replacement to the current LR sourcebook are required by 22 March 2024.

Further to the publication of six engagement papers earlier this year, FCA has now published feedback, including points raised and at roundtable and outreach events.  FCA is aiming to consult on proposals in summer 2024, which will include draft rules and cost benefit analysis, and the intention is to seek to make final rules in the first half of 2025.

This report provides an in-depth overview of the total market share held by UK-registered credit rating agencies in 2022.

The SI replaces the Prospectus Regulation and creates a new framework for the offering of securities to the public and the admission of securities to trading in the UK.  It will come fully into force alongside the commencement of the repeal of retained EU law relating to prospectuses.

FCA has published the Listing Authority Advisory Panel’s Annual Report for 2022/2023 which looks at the Primary Markets Effectiveness Review, the Future Regulatory Framework and evolving market risk.

FCA has updated this webpage with regard to securities which have matured or otherwise ceased to exist.