Professional Analysis of UK Global Markets

As an outcome of the intro of the UKLR sourcebook in July 2024, both the London Stock Market (LSE) and FTSE Russell made substantial modifications to their guidelines. In July 2024, the LSE verified modifications to its Admission and Disclosure Standards to reflect the collapse of the previous premium and basic listing sectors into the new industrial business classification.

, chaired by Charlie Geffen. The objective of the taskforce was to think about the prospective benefits of the UK moving to a T +1 securities settlement cycle and lay out how this modification could be implemented.

On 19 February 2025, the UK government revealed it accepted the suggestion and the UK market plans to transfer to a T +1 settlement cycle on 11 October 2027. One of the suggestions from the UK Secondary Capital Raising Review led to the facility in July 2022 of the Digitisation Taskforce, chaired by Sir Douglas Flint.

Professional Review of Mid-Market Capital Markets

In July 2023, the taskforce published an Interim Report (read our summary here) that made a variety of suggestions, consisting of: legislation should be brought forward, and company articles of association changed, as quickly as practicable to stop the issuance of brand-new paper share certificates; the government must bring forward legislation to require dematerialisation of all share certificates at a future date; the government should seek advice from with provider and investor agents on the favored disposition of "residual" paper share interests and whether a time frame must be enforced for the recognition of untraced Ultimate Beneficial Owners (UBOs); andintermediaries ought to have a responsibility, as a condition of participation in the cleaning and settlement system, to put in location typical technology that enables them to respond to UBO demands from providers within a really brief time frame.

ANSR July UK PRs

Digitisation would target listed companies with a view to lowering costs and waste, and simplifying investor communication. The report proposes additional steps to guarantee that UBOs within the intermediated securities chain would be able to work out investor rights that are presently just ensured for signed up shareholders, as well as steps to boost communication in between business and UBOs.