Main Market High Growth Segment—the role of the Key Adviser
Produced in partnership with Danette Antao of Hogan Lovells and Maegen Morrison of Hogan Lovells

The following Corporate practice note produced in partnership with Danette Antao of Hogan Lovells and Maegen Morrison of Hogan Lovells provides comprehensive and up to date legal information covering:

  • Main Market High Growth Segment—the role of the Key Adviser
  • Approval criteria for Key Advisers
  • Application for approval as a Key Adviser
  • When to appoint a Key Adviser?
  • Role and responsibilities of the Key Adviser
  • Record management
  • Contact persons
  • Key Adviser notifications
  • Cancellation of Key Adviser role
  • Discipline of Key Advisers
  • More...

Main Market High Growth Segment—the role of the Key Adviser

On 27 March 2013, the London Stock Exchange (LSE) announced the launch of the High Growth Segment of the Main Market (HGS). The HGS is intended to be a launch pad for high growth UK and European companies with ambitious plans for further growth and a potential listing on Official List of the Financial Conduct Authority (FCA) (Official List). For more detail see Practice Note: The Main Market High Growth Segment.

A key adviser (Key Adviser) must be appointed by both a company:

  1. applying for its securities to be admitted to trading on the HGS, and

  2. with securities admitted to trading on the High Growth Segment (HGS company)

This Practice Note takes a look at, amongst other things, the role and responsibilities of Key Advisers, the application and approval process and the disciplinary regime.

Approval criteria for Key Advisers

A person wishing to act as a Key Adviser must be on the list of Key Advisers which is available from the LSE on request to the Primary Market Regulation Team.

To be eligible for the list, a person must:

  1. be an authorised person that is included on the FCA's list of sponsors

  2. be competent to provide the services of a Key Adviser, ie it must have a broad range of relevant experience in advising companies admitted to public markets

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