Primary markets

UK Finance maintains a broad policy coverage across primary markets and mergers and acquisitions (M&A). We bring together ECM/DCM practitioners and legal specialists from across our membership and associate membership to discuss and address a range of public policy issues, spanning the breadth of the UK’s regulatory environment for listings, IPOs, and public capital raising. As the government has begun to consider fundamental legislative and regulatory changes to UK primary market rules, we continue to work with members in responding to strategically important initiatives such as recent reviews of the UK’s prospectus regime and secondary capital raising rules. Throughout this work, we collaborate closely with other trade associations to amplify our messaging. We maintain an extensive network of senior and working level relationships with key policy and regulatory stakeholders, including HM Treasury, the FCA, and the London Stock Exchange Group (LSEG).

Alongside this, we secretariat an active Corporate Finance Committee, which brings together senior practitioners to focus on the commercial, legal and regulatory aspects of M&A. The Corporate Finance Committee promotes the development of proportionate regulation that preserves flexibility for issuers and the efficient functioning of public capital markets. The Committee meets quarterly and has most recently discussed and provided feedback on a series proposed changes to the Takeover Code, as well as considering potential M&A impacts resulting from the recent National Security and Investment Act. The Committee engages closely with key policy and market stakeholders, such as the Takeover Panel and the FCA.

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UK Finance responds to HM Treasury's consultation on the UK prospectus regime

24.09.21

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UK Finance responds to HM Treasury's consultation on the UK prospectus regime

UK Finance and its members have welcomed this opportunity to support the government and regulatory authority's ongoing capital markets reforms through contributing to this key primary markets consultation.
UK Finance responds to FCA CP21/10 on the UK's regime for special purpose acquisition companies (SPACs)

03.06.21

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UK Finance responds to FCA CP21/10 on the UK's regime for special purpose acquisition companies (SPACs)

UK Finance's response reflects the shared ambition of regulatory authorities and market participants to swiftly act upon the recommendations proposed in Lord Hill's listings review.
UK Finance publishes its response to Lord Hill's listings review call for evidence

02.03.21

Consultation Responses

UK Finance publishes its response to Lord Hill's listings review call for evidence

UK Finance's submission to Lord Hill's call for evidence was written through the lens of enhancing the UK's position as a globally attractive, international listing venue, whilst maintaining its reputation for the highest standards of corporate governance and shareholder protection.
The Listings Review: New life for the UK's primary market

17.02.21

Blog

The Listings Review: New life for the UK's primary market

In the past decade it could be said that a plateau has become evident in the UK's primary market ?upon which private companies issue public equity through an initial public offering (IPO).