31 October 2017
Over the last 18 months, the FCA has published a series of consultation and discussion papers looking at a number of potential enhancements to the current UK primary capital markets regime to ensure that it continues to remain effective for both issuers and investors. On 26 October 2017, the FCA published final rules to reform the availability of information during the UK equity IPO process (Policy Statement 17/23) and to clarify and enhance a number of elements of the listing rules (Policy Statement 17/22).
Alongside these policy statements, in Feedback Statement 17/3 the FCA has identified three areas that it believes merit further consideration: (i) the positioning of standard versus premium listing; (ii) the provision of patient capital to companies requiring long term investment; and (iii) retail access to debt markets.
This briefing focuses on the FCA's new rules to reform the availability of information during the UK equity IPO process.