In this horizon scan for private investment funds, which is aimed at managers based in Europe, we have set out the some of the principal legal and regulatory-focused developments to look out for in the coming months....more
The keenly awaited details of the EU’s proposed first omnibus package were published on 26 February 2025. The package includes amendments to the Corporate Sustainability Reporting Directive (CSRD) (including revision and...more
3/13/2025
/ Corporate Governance ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Investment Funds ,
Private Equity ,
Regulatory Burden ,
Reporting Requirements ,
Sustainability ,
Sustainable Finance ,
Taxonomy
On 11 July 2024, the UK’s Financial Conduct Authority (the FCA) unveiled its final UK Listing Rules for the Main Market, set to take effect on 29 July 2024. These reforms represent the most significant transformation of the...more
Following the recent changes made to the UK Listing Rules that require Main Market–listed companies to comply with or explain against target board diversity disclosure and diversity data-reporting requirements, London is...more
The long-awaited Public Offers and Admissions to Trading Regulations 2024 (the Regulations), the legislation replacing the UK Prospectus Regulation (the UKPR), came into effect on 29 January 2024 alongside an explanatory...more
On 22 January 2024, the Financial Reporting Council (the FRC) published revisions to the UK Corporate Governance Code (the 2024 UKCGC), replacing the 2018 version with effect from financial years commencing on or after 1...more
2/9/2024
/ Amended Legislation ,
Board of Directors ,
Compliance ,
Corporate Counsel ,
Corporate Governance ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Equal Opportunities ,
Financial Reporting Council (FRC) ,
Internal Controls ,
New Guidance ,
Reporting Requirements ,
UK
On 20 December 2023, the UK Financial Conduct Authority (the “FCA”) published a further consultation paper (CP23/31) (the “December Consultation Paper”) for reforming the UK listing regime....more
1/17/2024
/ Alternative Investment Markets (AIM) ,
Capital Markets ,
Comment Period ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Initial Public Offering (IPO) ,
Listing Rules ,
Listing Standards ,
London Stock Exchange ,
Nasdaq ,
Public Consultations ,
UK
On 26 June 2023, the International Sustainability Standards Board (“ISSB”) issued its first two sustainability standards, IFRS S1 and IFRS S2. These standards, which incorporate the recommendations of the Task Force on...more
9/7/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Emerging Growth Companies ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
IFRS ,
Life Sciences ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Technology Sector
On 10 July 2023, the Chancellor of the Exchequer, Jeremy Hunt, delivered his first Mansion House speech in which he announced a series of measures designed to unlock pension investment in private companies whilst also...more
7/24/2023
/ Capital Formation ,
Capital Raising ,
Corporate Financing ,
Early Stage Companies ,
Entrepreneurs ,
Equity Financing ,
Investors ,
Pension Funds ,
Startups ,
UK ,
Venture Capital
On 3 May 2023, the UK Financial Conduct Authority (the “FCA”) published significant further proposals in a consultation paper (CP23/10) for reforming the UK listing regime....more
5/22/2023
/ Alternative Investment Markets (AIM) ,
Capital Markets ,
Corporate Governance ,
Emerging Growth Companies ,
Emerging Technology Companies ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
FTSE ,
Listing Rules ,
Listing Standards ,
London Stock Exchange ,
Nasdaq ,
Prospectus ,
Regulatory Agenda ,
Stock Exchange ,
UK
On 29 March 2023, the chief executive of the UK Financial Conduct Authority (FCA), Nikhil Rathi, delivered a speech at the Global Investment Management Summit in London on the wider UK capital markets ecosystem, which...more
On 17 April 2023, HM Treasury (HMT) published the draft Insider Dealing (Securities and Regulated Markets) Order 2023 (the Order) and an explanatory memorandum.
The Order brings the list of securities captured under the...more
4/19/2023
/ Compliance ,
Criminal Justice Act ,
EU ,
EU Directive ,
Financial Instruments ,
Financial Services and Markets Act ,
HM Treasury ,
Insider Trading ,
Market Abuse ,
Securities ,
Securities Regulation ,
UK
On 4 November 2022, the Pre-Emption Group (“PEG”) published an updated Statement of Principles: Disapplying pre-emption rights reflecting certain recommendations of the UK Secondary Capital Raising Review (the “SCRR”) which...more
The latest proposals for reforming the UK equity capital markets, in response to Lord Hill’s UK Listing Review of March 2021 (the Listing Review), have been announced following the publication of the UK Secondary...more