Strategic Analysis of UK Capital Markets

As an outcome of the introduction of the UKLR sourcebook in July 2024, both the London Stock Market (LSE) and FTSE Russell made substantial changes to their guidelines. In July 2024, the LSE validated amendments to its Admission and Disclosure Standards to show the collapse of the previous premium and standard listing sectors into the brand-new commercial business category.

It then issued a summary and FAQs verifying its view when the final UKLR sourcebook was released in July 2024. One of the procedures proposed as part of the Edinburgh Reforms in December 2022 was the facility of the Accelerated Settlement Taskforce, chaired by Charlie Geffen. The goal of the taskforce was to consider the prospective advantages of the UK relocating to a T +1 securities settlement cycle and lay out how this modification could be executed.

On 19 February 2025, the UK government revealed it accepted the suggestion and the UK market plans to transfer to a T +1 settlement cycle on 11 October 2027. Among the recommendations from the UK Secondary Capital Raising Evaluation led to the facility in July 2022 of the Digitisation Taskforce, chaired by Sir Douglas Flint.

Optimizing Mid-Market Workforce Strategies in 2026

In July 2023, the taskforce published an Interim Report (read our summary here) that made a variety of suggestions, including: legislation ought to be brought forward, and company articles of association changed, as quickly as practicable to stop the issuance of new paper share certificates; the federal government should bring forward legislation to require dematerialisation of all share certificates at a future date; the federal government needs to consult with provider and investor representatives on the preferred personality of "recurring" paper share interests and whether a time frame need to be enforced for the identification of untraced Ultimate Beneficial Owners (UBOs); andintermediaries should have a commitment, as a condition of participation in the clearing and settlement system, to put in place typical technology that allows them to react to UBO requests from companies within an extremely short time frame.

ANSR July UK PRs

Digitisation would target listed companies with a view to minimizing expenses and waste, and simplifying shareholder interaction. The report proposes extra steps to guarantee that UBOs within the intermediated securities chain would have the ability to work out shareholder rights that are presently just guaranteed for registered shareholders, along with measures to enhance communication in between companies and UBOs.