FCA eases IPO rules to boost London listings

The Financial Conduct Authority has eased rules for initial public offerings in the United Kingdom by removing the seven-day waiting period for connected research and reducing formal constraints on information-sharing between issuers and firms during the listing process.

Under the amended rules, connected research may be published while an IPO is underway rather than after a seven-day delay. The regulator said fewer information-sharing constraints should lower execution risk for issuers and cut compliance costs for advisers and sponsors involved in listings.

The FCA stated the changes are intended to make it easier for companies to access public capital in London and to strengthen the UK listings market’s ability to compete with other financial centres. It also said it will continue to supervise market conduct and maintain investor protections as firms apply the revised rules.

Jon Relleen, director of infrastructure and exchanges at the FCA, described the aim: “We want the UK market to be an attractive place for companies to raise capital and grow. By making the UK listing regime more efficient, we are supporting the growth and competitiveness of UK capital markets.”

The regulator added the rule amendments form part of its programme to enable growth, investment and innovation in UK capital markets.