Modernisation of the Listing Regime: Exploring the practice consequences of the FCA's proposals

City & Financial Global is delighted to be hosting a major virtual Summit on 17th September on the Modernisation of the Listing Regime. The Summit is being held in response to the FCA’s Consultation Paper on the Modernisation of the Listing Regime published on 5th July

The Consultation Paper aims to address some of the key barriers to listing in London following Lord Hill’s Report on the challenges to London as the venue of choice. It follows the decision of a number of entrepreneurial companies, particularly in the tech sector, to list in New York or other more sympathetic venues. The proposals would introduce various measures designed to increase the competitiveness of London including permitting limited dual class share structures in the premium segment, reducing the free float to 10%, revising provisions which deter SPACs from listing in London, amending track record requirements and revising the Prospectus Rules.

It is, however, recognised that London’s historical attraction has partly been due to its high levels of governance and disclosure. Issuers will face new disclosure requirements including integrating climate related disclosures and diversity reporting into the listing process. At the same time, the Government’s proposals to block companies listing on national security grounds could present an additional obstacle in certain sectors.

Clare Cole, Director of Market Oversight at the FCA and Julia Hoggett, Chief Executive, London Stock Exchange, have confirmed that they will be joining the speaker panel, one of which includes the Faculty's Bobby Reddy:

The conference is being held on 17th September so that it falls within the consultation period of the FCA’s Consultation Paper. Participants will consequently be able to use the event to provide feedback to the regulator.

Find out more and register.