Marchés des capitaux

eAlerts Récentes

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  10/02/2025

  England and Wales

  Securities litigation: reliance and liability

  On 25 October 2024, the High Court delivered a significant judgment in the case of Allianz Funds Multi-Strategy Trust (on behalf of AllianzGI Best Styles Global Equity Fund) and Others v Barclays PLC ([2024] EWHC 2710 (Ch)). The judgment, delivered by Mr Justice Leech, addresses key issues in securities litigation.Applications and backgroundThe judgment primarily dealt with two applications: (i) the Strike Out Application by Barclays; (ii) and the Amendment Application by the claimants. Barclays sought to strike out 241 claims brought by the claimants under section 90A and Schedule 10A of the Financial...

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  09/12/2024

  Royaume-Uni

  PISCES: Navigating the New Waters of Private Share Trading

  The Government is pushing forward with its plans to introduce PISCES next year and has published draft legislation with substantive changes to the previously published proposals. Excitingly, the revised proposals go materially further than the March 2024 consultation and we expect will make the platform much more attractive.What is PISCES?PISCES stands for “Private Intermittent Securities and Capital Exchange System”.  It is a proposed new regulated market for private company shares, in the form of a trading platform that allows for the intermittent trading of such shares. Following...

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  26/11/2024

  United Kingdom

  FCA publishes additional guidance on MAR

  On 15 November 2024, the Financial Conduct Authority (FCA) published Primary Market Bulletin 52 (PMB 52), which provides helpful guidance on applying the UK Market Abuse Regulation (MAR) in different scenarios. PMB 52 focuses on identifying and managing inside information, communicating with shareholders during calls and meetings, and releasing regulatory information during disruptions to primary information providers (PIPs). The guidance is aimed at listed companies subject to MAR (e.g. Main Market, AIM or Aquis companies) and their advisers. The FCA’s key observations are set out below.Identifying...

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  12/11/2024

  United Kingdom

  What are the implications of the new Listing Rules for property companies?

  IntroductionOn 29 July 2024, the new Listing Rules became effective (new UKLR), marking the most significant changes to the regulatory framework in over three decades. As confidence in the IPO market starts to slowly return, this briefing looks at the impact of the changes on property companies that are thinking of listing in London.ESCC or closed-ended investment fund?The new UKLR created a simplified single listing category for equity shares in commercial companies (ESCC), replacing the previous two tier regime of “premium” and “standard” listings. Closed-ended investment...

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  05/11/2024

  United Kingdom

  Transferring from AIM to the Main Market - what you need to know

  IntroductionTransferring a company's listing from AIM to the Equity Shares (Commercial Companies) (ESCC) category on the Main Market of the London Stock Exchange (LSE) is often said to offer numerous benefits, including increased access to capital, enhanced liquidity and greater investor confidence. This briefing outlines the process and requirements for an AIM company to transfer its listing to the ESCC category under the new UK Listing Rules (UKLR) which became effective on 29 July 2024.Key reasons for transferring to the ESCC categoryThere are several compelling reasons why an AIM company may...

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  28/10/2024

  United Kingdom

  The Economic Crime and Corporate Transparency Act 2023: Companies House publishes timetable for im­ple­men­ta­tion

  Companies House has published its much awaited plan (Transition Plan) for implementation of some of the key provisions of the Economic Crime and Corporate Transparency Act 2023 (ECCTA) not yet in force. Delivering the Transition Plan still requires significant investment in terms of Companies House systems and processes, as well as Parliamentary time to enact further secondary legislation. As a result, the new provisions are to be implemented in phases with Companies House anticipating that it will take until 2027 to complete.BackgroundThe ECCTA was enacted as part of Government efforts to combat...

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