The Listing Rules: The New Regime

Course level

Introductory

Delegates

This course will be of benefit to anyone involved in advising on UK main market listing regulation. It is also suitable for those who require an overview of the main rules in this area.

Overview

This one-day course is designed to provide an understanding of the rules which apply to public companies, both when they apply for a London Stock Exchange listing and once they are listed on the London Stock Exchange. It considers in order, all of the stages of listing, addressing in turn the regulatory requirements for each stage, including continuing obligations for listed companies. No prior knowledge of the Listing Rules is assumed.

Learning outcomes include obtaining a greater understanding of:

• The Listing Regime
  • The regulatory framework
  • Relevant sections of the Financial Services and Markets Act 2020
  • The Transparency Directive, Prospectus Directive and Market Abuse Directive
  • The 2020 Listing Review and the Disclosure Rules, Prospectus Rules and Listing Rules
• Types of Listing
  • Reasons for a Stock Exchange listing
  • Offers for sale/subscription
  • Placings
  • Introductions
  • Rights issues and open offer
• The Listing Process
  • The role of the sponsor
  • Conditions for a listing
  • Listing timetable
  • Listing documents
  • Admission to trading and listing
• Prospectuses
  • Contents of prospectuses
  • Responsibilities in relation to prospectuses
• Continuing Obligations
  • Directors' obligations
  • The Combined Code and the Model Code
  • Disclosure requirements
  • Transactions: Acquisitions, disposals, buy-backs
  • Circulars to shareholders
• Further Regulations
  • Sector-specific rules
  • Recent developments: The Listing Review

Course Dates