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London Stock Exchange Discussion Paper - Shaping the Future of AIM

The ‘Jewel in the Crown’ of London’s markets, AIM has been a central feature of UK capital markets for the last 30 years providing growing companies with access to capital and liquidity. ...more

FCA: Unlawful Disclosure of Inside Information and M&A Transactions

The FCA has published Primary Market Bulletin (PMB) No 54 outlining its concerns around the unlawful disclosure of inside information during the course of M&A transactions....more

Modernizing UK Trade Settlement Standard: The Road Ahead

The Accelerated Settlement Taskforce is currently examining a potential migration by the U.K. from a so-called T+2 to a T+1 settlement standard, i.e., reducing the time it takes for securities transactions to settle, having...more

London: The Optimum IPO Venue for Israeli Growth Companies

For the vast majority of Israeli and Israel-related companies considering an IPO, London should continue to be the venue of choice. London has greater access to capital and liquidity than the Tel Aviv Stock Exchange and lower...more

FRC Revises UK Corporate Governance Code

Following the May 2023 consultation on the UK Corporate Governance Code (“Code”), the FRC has published a revised Code. The changes focus primarily on one area - Internal Controls whilst other changes have been kept to a...more

London: an Attractive IPO Venue for US Mid-Caps

While the British media is currently focussed on a small number of large-cap companies, formerly listed in London, choosing to move their listings to New York, there is another story which is not so well publicised. Many...more

FCA Publishes Feedback and Transformative Proposals for UK Listing Regime

Following on from the consultation earlier this year, the FCA has published feedback and detailed proposals which will transform the current listing regime. The FCA is proposing to create a single listing category for UK...more

Revised QCA Corporate Governance Code

The Quoted Companies Alliance (QCA) has published a revised corporate governance code (Code). The Code is still based around 10 Principles but has been updated to keep pace with evolving investor expectations, particularly...more

Crisis of Trust: Corporate Governance Update 2023

Following a series of accounting and audit scandals in recent years and what has been described as a “crisis of trust”, the UK Government, regulatory bodies, and institutional investor groups have set out to reform the UK’s...more

FRC Publishes Its Annual Review of Corporate Reporting 2022/23

The FRC has set out its expectations, in its Annual Review of Corporate Reporting, for the coming reporting season amidst the current economic background of high inflation, high interest rates and ongoing economic...more

FRC research on the influence of proxy advisors and ESG rating agencies

The FRC has published research on the influence of proxy advisors and ESG rating agencies on the actions and reporting of FTSE 350 companies and investor voting. This makes interesting reading and highlights...more

FRC publishes consultation on the UK Corporate Governance Code

Following the government’s white paper on ‘Restoring trust in audit and corporate governance’, the FRC has published a consultation on the UK Corporate Governance Code (“Code”). ...more

Update from Parker Review 2023

An update report from the Parker Review on Ethnic Diversity highlights that 96% of FTSE 100 companies have met the target of at least one minority ethnic director on their boards. FTSE 250 companies are making progress...more

Judicial review against the FCA in Ithaca Energy case

ClientEarth has launched a judicial review against the FCA for approving a prospectus which ClientEarth claims contained inadequate climate-related disclosures. This is part of an increased use by environmental pressure...more

Preparing for your 2023 AGM

2022 saw the return of physical meetings for a significant majority of AGMs, with companies viewing hybrid meetings as more complex and costly. Institutional investors continue to support well organised hybrid meetings, but...more

Revised Pre-Emption Group Statement of Principles

The Pre-emption Group has published a revised Statement of Principles permitting companies to disapply the statutory pre-emption rights for up to 20% (on a 10% + 10% basis) of their issued share capital in any one year.  This...more

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