FCA Consultation on a New Category of Premium Listing for Sovereign Controlled Companies
Client Memorandum

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On July 13, 2017, the UK Financial Conduct Authority (the “FCA”) published a consultation paper entitled “Proposal to create a new premium listing category for sovereign controlled companies” (“CP 17/21”), which recommends some targeted amendments to the UK Listing Rules to make the UK capital markets more accessible to companies which are directly or indirectly controlled by a nation state.

The FCA has asked for responses to the questions raised in the consultation paper by October 13, 2017, and intends to publish the final rules in a policy statement before the end of 2017. This memorandum sets out the key proposals of CP 17/21 and provides some considerations as to how the new regime, if implemented, may work in practice.

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