Mrs Carole Schmidt-Bataineh’s Post

The new Listing Rules are now out and will take effect from 29 July. A shift to a greater emphasis on a disclosure-based approach should allow investors to change how they engage with companies. Next up in the journey to unlock the UK public markets is the consultation on the proposed new regime for public offers and admissions to trading, so watch this space!

Last week, the FCA published the final version of its new listing rules for a new, simplified, and more competitive UK listing regime, whilst maintaining key standards to protect investors and ensure market integrity. The rules will take effect on 29 July 2024. Read more here; https://ow.ly/VStU50SzEqB

Last week, the FCA published a policy statement relating to the UK bond and derivative regime, summarising feedback from its consultation paper. Several key changes have been made to improve transparency, most of which take effect by December 2025, allowing firms time to adapt, although specific pre-trade transparency rules will apply by March. This policy marks a significant step towards modernising the transparency framework and creating a more efficient and competitive financial environment: https://rebrand.ly/vz9bufk

FCA Proposes Rules for New Stock Market for Private Companies - Regulation Asia: PISCES will allow private and other unquoted UK and overseas companies to trade their securities during intermittent trading windows. #regtech #cdo #datagovernance

So, day 2 of the new UKLR, and so far so good though I'm still making a conscious effort not to refer to Chapter 10 for the class tests. To refresh on a few key points under the UKLR: - No shareholder vote required for related party transactions or significant transactions though new disclosure requirements apply - Removal of (what used to be) "Class 2" announcements – listing rule notifications are only required once the 25% class test threshold is reached for significant transactions and 5% for related party transactions (though the usual MAR obligation to announce any inside information continues) - Increase of related party threshold to 20% shareholders (from 10%) - Aggregation rules with a 12-month look back period continue to apply for both significant transactions and related party transactions - Removal of requirement for relationship agreements with controlling shareholders - No need to appoint a sponsor for significant transactions or related party transactions though sponsor must be appointed if the Company wants to seek any specific guidance / rule waivers from the FCA.  Alongside the summer of sport, the summer of public markets reform… Next event the prospectus rules and capital raisings 😊 RPC #plc

Read May's regulatory news to find out which firms received a fine and learn about key updates such as changes to Regulation S-P by the SEC, the UK FCA’s product deadline for consumer duty obligations, and much more.https://bit.ly/3RlH7bn #RegulatoryNews #RegNews

The FCA’s new common-sense approach raises crucial questions for the financial services sector. Is this shift towards principles-based regulation a risk or a reward? 🤔 Dive into our analysis on how the FCA's Consumer Duty aims to balance consumer protection with market growth. Explore the implications for firms and regulators alike. Read the full article: https://lnkd.in/eWumsgZs

New FCA rules 📖 are proposed for Public Offer Platforms who facilitate companies making public offers with a total consideration greater than £5 million 💷 over a 12-month period. The main focus of the bespoke rules is on three areas: 1) Information gathering and due diligence 🔎; 2) Disclosures to investors 📜; and 3) Liability and redress framework 🖲. Read more about what this means and what firms need to do below 👀. And if you would like to know more please let me, Conor Macmanus or Claire Lawrie know and we would be happy to have a discussion. https://lnkd.in/en_5gCuJ

📢 If you ever doubted the FCA’s focus on price and value across all financial services, the regulator provided more guidance for firms on it. Nadege Genetay summarised what are the key highlights (including poor practices and good practices) in the article below. 👉 Click to read the highlights of the FCA document: https://lnkd.in/eDxcjqji #sicsicadvisoryinsights