FCA publishes final SPACs rules

The Financial Conduct Authority (FCA) has published the final rule changes to the Listing Rules (PS 21/10) for special purpose acquisition companies (SPACs). A SPAC is a shell company which raises funds through an initial public offering (IPO) of its shares and lists, with the objective of using the funds raised to buy one or … Read more

Half yearly corporate update – our latest briefing

We have published our half-yearly update briefing which summarises the major developments in UK corporate law and regulation that have occurred over the last six months, that is from January to June 2021, and which are of relevance to UK listed companies. The briefing is available here. Read more

Prospectus regime – Treasury review of the prospectus regime

The Treasury has published a wide-ranging review of the UK prospectus regime promising the biggest shake up of the prospectus regime since 2005. The review follows the conclusions of the Hill Review of the UK listing regime published in March 2021. The Financial Conduct Authority (FCA) consultation discussed at item 3 below and its earlier … Read more

Prospectus regime – FCA to adopt ESMA Guidelines on the Prospectus Regulation

The FCA has published the latest edition of its Primary Market Bulletin (PMB No.34). In it, it is consulting on a guidance note adopting the Guidelines on disclosure requirements under the Prospectus Regulation published by the European Securities and Markets Authority (ESMA). It is also consulting on incorporating some of ESMA’s Q&A on the Prospectus Directive into … Read more

Listing regime – proposed power to block listings on national security grounds

The Treasury has published a consultation on a Power to block listings on national security grounds. It says that concerns have been raised about the possible links between a listing and national security and that it therefore wants to have power to block listings on national security grounds. The Government believes that the scenarios in … Read more

Listing regime – FCA consultation on SPACs

The FCA has published a consultation paper on investor protection measures for special purpose acquisition companies (SPACs). It is proposing to amend the Listing Rules for SPACs that have stronger investor protection features. A SPAC is a shell company which raises funds through an initial public offering (IPO) of its shares and lists, with the … Read more

The UK Listing Review

The government has published the outcome of the Review of the UK listing regime undertaken by Lord Hill. The Review, which was launched in November 2020, was set up to look at possible reforms to the UK listing regime that would attract the most innovative and successful firms and help companies access the finance they need … Read more

Consolidated corporate update July to December 2020

We have published our half-yearly update briefing which summarises the major developments in UK corporate law and regulation that have occurred over the last six months, that is from July to December 2020, and which are of relevance to UK listed companies. The briefing is available here. Read more