STOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024, which included the removal of the premium and standard listing segments and the creation of a single listing category

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Any security that is admitted to listing on the Official List maintained by the FCA.

The shares of a public limited company which has satisfied the entry requirements of the UKLA to gain admission to the Official List. Such companies are subject to a wide range of rules, most notably the Listing Rules and the Disclosure Guidance and Transparency Rules maintained by the FCA which govern admission to the list and the continuing obligations of listed companies whilst listed.

The FSA has taken responsibility for the listing of companies to the ‘official list’. Inclusion in this list represents an endorsement from the FSA that the company has met minimum standards.

The Financial Conduct Authority (FCA) has published Primary Market Bulletin (PMB) 53, together with guidance consultation GC24/6 and finalised guidance FG24/7. This follows the implementation of the new UK Listing Rules which came into force on 29 July 2024. The FCA is therefore proposing to update several of its technical and procedural notes to reflect the most recent changes to the listing regime. It is also consulting on historical changes that are yet to be reflected such as removing references to the Prospectus Directive, reflecting Brexit-related changes and other historical changes to its processes. Some changes are also proposed to technical and procedural notes relating to the sponsor regime. Responses to the proposals on technical and procedural notes are sought by 23 January 2025.

The Financial Conduct Authority (FCA) has published Primary Market Bulletin (PMB) 57, together with guidance consultation GC25/2. This follows the implementation of the new UK Listing Rules which came into force on 29 July 2024. The FCA is continuing to update several of its technical and procedural notes to reflect the changes to the listing regime. Given the scale of the changes, the FCA will be adopting a phased approach to consulting on corresponding changes to its Knowledge Base guidance and will consult on those changes in future editions of PMB. Specific changes relating to the National Storage Mechanism (NSM) which come into effect on 3 November 2025 are highlighted. The FCA also marks its intention to make changes to the submissions of UK MAR notification forms later in 2025.

Rules maintained by the conduct-authority'>Financial Conduct Authority (FCA) which set out minimum requirements for the admission of securities to listing, and the continuing obligations of issuers after admission.

ARCHIVED: This Practice Note has been archived and is not maintained. A significant restructuring of the UK listing regime came into effect on 29 July 2024 which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories.  The UK Listing Rules sourcebook came into force to implement the changes and the Listing rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This fundamentals note reflects the listing regime prior to 29 July 2024 and has been retained for reference purposes. This fundamentals note considers the class tests used to classify the size of a transaction by a listed company under the Listing Rules prior to 29 July 2024. What are the class tests used for? The class tests (also referred to as percentage

This Practice Note sets out destination tables showing where rules contained in chapters of the former Listing Rules (LR) are found in the UK Listing Rules (UKLR). The destination tables cover chapters 2, 5, 6, 8, 9, 10 and 11 of the previous Listing Rules and focus on the equity shares in commercial companies listing category. The UKLR came into effect on 29 July 2024. LR 2 of the former Listing Rules—Requirements for listing: All securities Provisions from former LR 2 are found in UKLR 3 ‘Requirements for listing: all securities’. There are no substantive changes to the drafting of these provisions. LR 2 provision Description UKLR 3 LR 2.1.1 R Application UKLR 3.1.1 R LR 2.1.2 G–LR 2.1.3 G Refusal of applications UKLR 3.1.2 G–UKLR 3.1.3 G LR 2.1.4 R Special requirements UKLR 3.1.4 R LR 2.1.5 G No conditional admission UKLR 3.1.5 G Requirements for all securities LR 2.2.1 R Incorporation UKLR 3.2.1 R LR 2.2.2 R Validity UKLR 3.2.2 R LR 2.2.3 R Admission

ARCHIVED: This archived tracker contains a summary of historic changes to provisions in the former Listing Rules sourcebook. Tracker overview This Listing rules (LR) tracker contains a summary of historic changes to provisions in the former Listing Rules sourcebook as well as related legislative and regulatory developments, guidance and updates. On 29 July 2024, the Listing Rules sourcebook was revoked and the UK Listing Rules sourcebook came into effect. For a tracker showing changes to provisions in the UK Listing Rules sourcebook, see Practice Note: UK Listing Rules tracker.The tracker also contains links to consultation papers, policy statements, practical guidance and notices issued by the Financial Conduct Authority (FCA) (and the Financial Services authority (FSA) before it). Recent developments (2010 onwards) Date Issuing body Document Description 2024 29/07/2024 FCA Handbook Notice 121UK Listing Rules Instrument 2024 (FCA 2024/23) The new UK Listing Rules sourcebook came into effect and the Listing Rules sourcebook was revoked 11/07/2024 FCA Policy Statement PS24/6: Primary Markets Effectiveness Review: Feedback to CP31/23 and final UK Listing RulesUK Listing Rules Instrument 2024