The Association for Financial Markets in Europe (AFME) has welcomed the Financial Conduct Authority (FCA)’s simplified listings regime, designed to boost growth and the UK’s capital markets, and better align the UK with international market standards.
Commenting on the publication of the final rules, Gary Simmons, managing director of equity capital markets at AFME, said: “We applaud the FCA on a bold overhaul of the current listing regime, which we believe, is a significant step towards increasing the attractiveness of the UK capital market and aligning the regime with international market standards. The new regime features a more flexible, disclosure-based approach, representing a move towards economic growth and accommodating increased risk appetite within the market.
“The rules retain the sponsor role, but outline a re-calibrated declaration requirement and will play an important role alongside the forthcoming changes to the public offers and admissions to trading regime this summer.”
Simmons added that AFME will continue to engage with the FCA “as this develops”.
Also reacting to the simplified listings regime, London Stock Exchange CEO Julia Hoggett said: “We congratulate the FCA on delivering the largest set of reforms to our listing rules in decades. It has been heartening to see how the entire ecosystem has come together to achieve this ambitious objective.
“It will ensure that companies listed in the UK can benefit from a listing regime that better supports their growth ambitions, increases investment opportunities for UK investors and supports the UK economy,” Hoggett added.
The new rules, which Chancellor Rachel Reeves said will help to “invigorate” the UK’s capital markets, will apply from 29 July 2024.
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