The FCA’s second phase of reform of the Listing Rules: Increasing transparency and encouraging more market participation

The FCA’s second phase of reform of the Listing Rules: Increasing transparency and encouraging more market participation

Speech

The FCA’s second phase of reform of the Listing Rules: Increasing transparency and encouraging more market participation

By Financial Conduct Authority UK

In June 2022, Clare Cole, the FCA’s Director of Market Oversight, delivered a pivotal speech detailing the second phase of the Primary Markets Effectiveness Review. She argued that the UK’s listing rules—some of which had not been updated since the mid-1980s—were "dinosaurs" that failed to account for modern, high-growth, and tech-heavy business models.

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