New UK Listing Rules: what do they mean for you?

Three and a half years after Lord Hill’s UK Listing Review was published, the Financial Conduct Authority (FCA) has now published the new UK listing rules, which come into force on 29 July 2024.

According to the FCA, the new rules mark the most significant change to the UK’s listing regime in over three decades. The stated aim is to move away from a rules-based approach to a disclosure-based regime, which provides more flexibility to listed companies and allows investors access to a wider array of companies, albeit with fewer protections built into the listing requirements.

In this briefing, we set out what the new listing rules (UKLRs) mean for companies (both those already listed and those seeking a listing), their directors and the adviser community. It isn’t quite “all change”, but there is a lot for us all to get to grips with in short order.