A new era for the UK's capital markets? FCA publishes proposals to reform the UK's capital markets and IPO process
09 March 2017
The FCA has published various proposals to reshape and enhance the UK's primary markets. The publications form a key part of the FCA's wider work on improving the efficiency and effectiveness of the capital markets for issuers and investors.
The proposals are set out in:
- a discussion paper: 'Review of the Effectiveness of Primary Markets: The UK Primary Markets Landscape' (DP 17/2) which prompts a discussion on the effectiveness of its primary capital markets for issuers and investors (the Discussion Paper);
- a consultation paper: 'Review of the Effectiveness of Primary Markets: Enhancements to the Listing Regime' (CP 17/4) which proposes certain enhancements to the Listing Rules (the LR Consultation Paper); and
- a consultation paper: 'Reforming the availability of information in the UK equity IPO process' (CP 17/5) (the IPO Reform Consultation Paper).
We take a look at the key proposals in each of the FCA's papers: