CRC Energy Efficiency Scheme

FCA publishes PRM forms and checklists ahead of 19 January 2026 implementation

The Financial Conduct Authority (FCA) has published new forms and checklists for submissions under its Prospectus Rules: Admission to Trading on a Regulated Market (PRM) sourcebook, which comes into force on 19 January 2026. The PRM will replace the existing Prospectus Regulation Rules sourcebook as part of the UK's new regime for public offerings of securities and admissions to trading, with the Public Offers and Admission to Trading Regulations 2024 (POATR) simultaneously replacing the UK Prospectus Regulation. From 1 December 2025, issuers may submit draft prospectuses, registration documents, universal registration documents, securities notes and summaries prepared under the new framework for approval on or after 19 January 2026 via the Electronic Submission System. The published materials include updated payment forms, document review forms, sponsor declarations, and listings data management forms. The FCA has indicated that completed forms will only be accepted from 19 January 2026, with specific transitional arrangements for documents submitted under the existing regime but not approved before the implementation date.

ISS Governance announces 2026 Benchmark proxy voting policy updates

ISS Governance has announced updates to its Benchmark proxy voting policies following input gathered during its public comment period on 19 significant proposed policy changes, for which it received 28 responses. The final updates span global, regional, and market-specific issues, and are grouped according to ISS’s three global benchmark policy research regions: the Americas; Europe, the Middle East and Africa (EMEA); and Asia-Pacific. ISS notes that the revised policies continue to support informed voting decisions consistent with investor stewardship responsibilities and fiduciary duties. The updates form part of ISS’s annual global policy development process and will apply to shareholder meetings held on or after 1 February 2026.

FCA charges two individuals with insider dealing offences

The Financial Conduct Authority (FCA) has commenced criminal proceedings against Bobosher Sharipov and Bekzod Avazov for insider dealing offences under the Criminal Justice Act 1993 (CJA 1993). Sharipov, who worked at investment bank Jefferies International Limited and advised GCP Student Living Plc (GCP) on a potential takeover, is charged with the improper disclosure of inside information contrary to CJA 1993, s 52(2)(b). Avazov is charged with dealing in price-affected securities in relation to inside information contrary to CJA 1993, s 52(1). He is alleged to have used confidential information provided by Sharipov to trade in GCP shares and spread bets, generating profits of almost £70,000. The alleged offences occurred in 2021. The case was formally sent to Southwark Crown Court, and neither defendant has entered a plea.

Budget 2025—key Corporate announcements

In the Budget 2025, on 26 November 2025, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP announced measures to encourage more companies to list on UK regulated markets as part of broader reforms to strengthen the competitiveness of UK capital markets.