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 July to December 2021, and which are of relevance to UK listed companies. The briefing is available here. Read more

HM Treasury response on proposed power to block listings on national security grounds

The Treasury has published a summary of responses to its consultation on a proposed new power to block listings on national security grounds and says it will proceed with the proposals. The Treasury published the consultation in light of concerns about possible links between a listing and national security, for example if the proceeds of a listing … Read more

Company censured and fined for breach of AIM rules

The London Stock Exchange has censured and fined Sensyne Health plc £580,000 (discounted to £406,000 for early settlement) for failing to maintain effective controls to enable compliance with the AIM Rules, and for failing to comply with AIM’s related party rules in respect of bonus payments made to its directors. In November 2018, three months … Read more

Capital markets – Treasury review of secondary capital raisings in the UK

HM Treasury has launched a UK Secondary Capital Raising Review to look into improving the capital raising process for publicly traded companies in the UK. Lord Hill’s UK Listing Review made a series of recommendations to the Government to increase the attractiveness of the UK as a destination for IPOs and optimise the capital raising process for companies on … Read more

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