In November 2020, the Government announced a review of the UK’s listing and prospectus regime, with the intention of enhancing the UK’s position as an attractive market to list in London, particularly now that the UK has left the European Union.
To this end, Lord Hill published a report in March 2021 (a copy can be accessed here:) examining the existing regime, which recognised a need for change to encourage the most innovative and creative companies to list on the UK markets. The review was considered in our PLC Update note, which can be accessed here:
Further to Lord Hill’s report, two consultations were launched on certain proposed changes to the prospectus regime and the listing of special purpose acquisition vehicles (SPACs). The consultation on the prospectus regime was published on 1 July 2021 and will close on 17 September 2021. The consultation on SPACs was issued on 30 April 2021 and with a report containing details of the final proposed changes to the Listing Rules published by the FCA on 27 July 2021.