On 26 April 2024, the Financial Conduct Authority (FCA) published Primary Market Bulletin No 48 (the PMB). In this special edition, the FCA is consulting on changes it proposes to make to guidance in its Knowledge Base in relation to the listing regime, including rules for sponsors, in conjunction with its recent consultation paper CP23/31 - Primary Market Effectiveness Review.
The PMB also provides a draft version of the Procedures, Systems and Controls Confirmation Form that the FCA proposes to introduce for issuers to submit to the FCA at admission under its proposals in CP23/31. The proposals set out in the PMB are subject to the wider outcome of the FCA’s consultation process on the new UK Listing Rules, and to the FCA Board’s final decision on whether to proceed with changes. The FCA notes that it expects to seek board approval of the final rules in June or July 2024. The PMB also finalises three technical notes relating to sponsor competence, following CP23/31.
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