CP17/21: Proposal to create a new premium listing category for sovereign controlled companies

Open consultation: CP17/21
Consultation closes
Policy Statement
Q4 2017
Q4 2017

We are consulting on a targeted proposal to make the listing regime work better for companies controlled by a shareholder that is a sovereign country.

Show CP17/21 (PDF)

In February 2017 we published our discussion paper DP17/2 Review of the Effectiveness of Primary Markets: The UK Primary Markets Landscape. This paper discussed the role of listed primary markets as an important component of the broader capital markets landscape, and the structure of the UK listing regime in supporting that role. One of the issues we sought views on was the broad question of whether our existing listing arrangements might be improved for international companies, and if so how. We are continuing to analyse feedback to the paper and considering how best to take forward this wider policy project.

This consultation brings forward a targeted proposal for reform of the categories of premium listing to include a new listing category which will be available to commercial companies controlled by a shareholder that is a sovereign country.

Who this applies to

This paper will be of interest to:

  • companies listed in and considering listing in the UK
  • firms advising listed companies, sponsors, institutions offering depositary services and their advisers
  • firms or persons investing in or dealing in UK-listed securities, or advising on these investments

What you need to do

Please send us your comments by  13 October 2017: 

Online response form

You can also:

  • email [email protected] or
  • write to: Primary Markets Policy Team, Financial Conduct Authority, 25 The North Colonnade, London E14 5HS

Next steps

We will consider your feedback and publish our rules in a Policy Statement towards the end of the year.

At the same time we will continue to progress our Review of the Effectiveness of UK Primary Markets.  Should we choose to advance any other specific policy proposals as a result of the discussion paper, we will issue a further consultation paper.

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