Responding jointly with the Association for Financial Markets in Europe (AFME), we express our overall support for the proposals. We strongly welcome the FCA’s ambition to achieve a balance between flexibility and accessibility for issuers, as well as to ensure appropriate safeguards to preserve market integrity and support investors’ decision-making both at IPO and once listed. Our response to this consultation focusses on recommending targeted adjustments to ensure that the operation of the new regime in practice will reflect the policy objectives it has been designed to achieve.