FCA Consultation on a New Category of Premium Listing for Sovereign Controlled Companies
On July 13, 2017, the UK Financial Conduct Authority (the “FCA”) published a consultation paper entitled “Proposal to create a new premium listing category for sovereign controlled companies” (“CP 17/21”), which recommends some targeted amendments to the UK Listing Rules to make the UK capital markets more accessible to companies which are directly or indirectly controlled by a nation state.
The FCA has asked for responses to the questions raised in the consultation paper by October 13, 2017, and intends to publish the final rules in a policy statement before the end of 2017. This memorandum sets out the key proposals of CP 17/21 and provides some considerations as to how the new regime, if implemented, may work in practice.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
Copy link to share post