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Clifford Chance

Clifford Chance


FCA proposes radical overhaul of the UK listing regime

4 May 2023

The FCA has today published a consultation paper (CP23/10) on its proposed reforms to the UK listing regime for commercial companies which, if implemented, will be the most radical overhaul of the listing regime in a generation.

Most notably, the consultation paper proposes:

  • A single listing segment to replace the current distinction between premium and standard listed companies; and
  • A more disclosure-based approach, allowing investors to decide whether they wish to invest in and/or continue to support listed companies, removing some of the prescriptive eligibility criteria and corporate governance protections requiring mandatory shareholder approval for certain transactions.

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