Strategic Review of Mid-Market Capital Markets

As a result of the introduction of the UKLR sourcebook in July 2024, both the London Stock Exchange (LSE) and FTSE Russell made substantial changes to their guidelines. In July 2024, the LSE verified modifications to its Admission and Disclosure Standards to show the collapse of the previous premium and basic listing sections into the brand-new industrial business classification.

, chaired by Charlie Geffen. The goal of the taskforce was to think about the possible advantages of the UK moving to a T +1 securities settlement cycle and outline how this modification might be executed.

, chaired by Sir Douglas Flint.

Professional Review of UK Global Markets

In July 2023, the taskforce released an Interim Report (read our summary here) that made a variety of recommendations, including: legislation must be brought forward, and business posts of association altered, as quickly as practicable to stop the issuance of brand-new paper share certificates; the federal government must advance legislation to need dematerialisation of all share certificates at a future date; the federal government ought to seek advice from company and financier agents on the favored disposition of "residual" paper share interests and whether a time limitation must be enforced for the recognition of untraced Ultimate Beneficial Owners (UBOs); andintermediaries ought to have an obligation, as a condition of participation in the clearing and settlement system, to put in location typical innovation that allows them to react to UBO requests from companies within a really brief time frame.

ANSR July UK PRs

Digitisation would target listed companies with a view to lowering expenses and waste, and streamlining shareholder communication. The report proposes extra procedures to ensure that UBOs within the intermediated securities chain would be able to exercise shareholder rights that are currently just ensured for signed up shareholders, along with measures to improve communication between companies and UBOs.