Investment Association’s updated Share Capital Management Guidelines

17 February, 2023
The Investment Association (IA) has published an updated version of its Share Capital Management Guidelines, which set out the expectations of the IA’s members as institutional investors on various aspects of share capital management. The Guidelines (which apply to premium listed companies, with standard-listed and AIM companies encouraged to adopt them) have been updated to reflect the … Read more

Half-yearly corporate update – our latest briefing

20 January, 2023
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 2022, and which are of relevance to UK listed companies. The briefing is available here. Read more

Illustrative framework for the new UK prospectus regime published

23 December, 2022
HM Treasury has published a policy statement setting out its approach to the repeal of financial services retained EU law. As part of this, it has also published an illustrative statutory instrument on public offers and admissions to trading (SI) which demonstrates how it will make its proposed changes to the prospectus and public offers regime. The policy statement … Read more

FCA enforcement action – non-executive Chair fined for disclosing inside information

05 August, 2022
The Financial Conduct Authority (FCA) has fined Sir Christopher Gent (SCG), the former non-executive Chair of ConvaTec Group Plc, £80,000 for unlawfully disclosing inside information in breach of Article 14(c) of the (then) EU Market Abuse Regulation. The fine follows a warning notice issued to SCG in September 2021 by the FCA proposing to take action against him – … Read more

FCA enforcement action – company censured and executive directors fined for breaches of Listing Rules and MAR

29 July, 2022
The Financial Conduct Authority (FCA) has censured Carillion and provisionally fined three of the company’s former executive directors for breaches of the Listing Rules and UK Market Abuse Regulation (MAR). Carillion was a construction, project finance and support services business which went into liquidation in January 2018.  In July 2017, Carillion had announced a provision … Read more

Secondary Capital Raising Review recommendations

22 July, 2022
The recommendations of the UK Secondary Capital Raising Review, which looked at the regime for secondary capital raisings by listed companies in the UK and how it can be improved, have been published. The Review was launched in response to a recommendation of the Lord Hill UK Listing Review. Our updated summary of the status for … Read more

Financial Services and Markets Bill 2022-23 published

22 July, 2022
A Financial Services and Markets Bill has been published as part of the government’s Future Regulatory Framework Review (FRF Review). The FRF Review was established to determine how the UK’s financial services regulatory framework should be amended post-Brexit. The Bill covers a wide range of topics including revoking EU retained laws relating to financial services and markets. For listed … Read more

‘On the horizon’ podcast

30 June, 2022
We have released our ‘on the horizon’ podcast, which is a short summary of the more material developments we expect to see in the next 6-12 months that will be of interest to listed companies. The podcast is available here: ‘on the horizon’ podcast. Read more