UK Government Announces Review of UK Listing Regime
Client Memorandum

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On 19 November 2020, the Chancellor of the Exchequer, Rishi Sunak, announced a review by HM Treasury of the UK listing regime (the Review). In particular the Review focuses on free float and financial track record requirements, the acceptability of dual class share structures, the requirement to publish a prospectus and encouraging dual and secondary listings in the UK.

The objective of the Review, to be led by Lord Jonathan Hill, is to seek proposals for reform that will attract the most innovative and successful firms to list in London and help companies access the UK capital markets against the backdrop of the UK regaining responsibility for its financial services rulebook in connection with its exit from the European Union.