Official List meaning

This Practice Note serves as an initial guide to listing debt securities on the London Stock Exchange (LSE). It outlines the ideas of listing and admission to trading, and centres on the main markets for listing debt instruments. It does not aim to detail every applicable requirement and provides links to relevant resources for further reading. It also excludes disclosure requirements and ongoing continuing obligations. Principal markets for debt securities listings The LSE operates several markets, but the venues commonly used for debt capital market listings are: the Main Market the International Securities Market (ISM) the Professional Securities Market (PSM) (Note: From 19 January 2026, the PSM is closed to new admissions) In addition, the LSE runs two markets tailored to particular segments of the debt securities space: the Order book for Fixed Income Securities (OFIS) the Sustainable Bond Market Listing or admission to trading––what is the difference? ‘Listing’ means admission of...

This checklist sets side by side the entry criteria and principal ongoing duties under the UK Listing Rules (UKLR) for equity share listings across these Official List categories: equity shares (commercial companies), equity shares (international commercial companies secondary listing), equity shares (shell companies) and equity shares (transition). It further considers the main continuing obligations set out under the Disclosure Guidance and Transparency Rules (DTR) too...

This flow diagram sets out the principal stages and regulatory factors in bringing debt securities to the Qualified Investor Bond Market (QIBM) of The International Stock Exchange (TISE). From appointing a listing agent to obtaining the grant of listing—it signposts key documentation, review milestones, and regulatory interactions throughout the entire process. What is the process and what rules apply to listing debt securities on the Official List of The International Stock Exchange?...

This diagram clearly outlines the key steps for listing and admitting debt instruments for trading on the London Stock Exchange’s Main Market (LSE)...

In this issue: Criminal procedure and evidence Bribery, corruption, sanctions and export controls Consumer protection and cartels Cybercrime and data protection offences Environmental offences Financial services and pensions offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Insolvency offences and Companies Act offences Local authority prosecutions Money laundering Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Criminal procedure and evidence Email caution offers a rare glimpse into SFO record-keeping. Disclosures show a Serious Fraud Office (SFO) official urged investigators to avoid setting out case concerns in emails, highlighting how grinding disclosure disputes shaped the agency’s approach while it was under intense scrutiny over its evidence practices. See News Analysis: Email warning provides rare sight into SFO record-keeping... Bribery, corruption, sanctions and export controls FCDO issues guidance on consolidating UK sanctions lists by January...

In this issue: Air emissions and climate change Environmental enforcement and prosecutions Energy for environmental lawyers ESG and sustainability Hazardous substances and chemicals Key developments and materials Marine Waste producer responsibility regimes Wildlife, biodiversity and habitat conservation LexTalk Environment: a Lexis Nexis community Daily and weekly news alerts New and updated content Trackers Useful information Air emissions and climate change DESNZ has released the government’s response to the consultation on regulatory proposals for the CCUS transport and storage Revenue Support Agreement counterparty direction. The CO2 T&S business model aims to catalyse early carbon capture, transport and storage networks by providing revenue support. The response confirms it is suitable to move forward with regulations concerning the Secretary of State’s power to direct a counterparty to make an offer to contract. See: LNB News 29/02/2024 40. DESNZ has also opened a call for evidence to inform a future policy framework for...

In this issue Criminal procedure and evidence Proceeds of crime Appeal and judicial review Bribery, corruption, sanctions and export controls Environmental offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Local authority prosecutions Money laundering Corporate Crime in Scotland International Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Criminal procedure and evidence CTJ issues updated Crown Court Compendium The Courts and Tribunals Judiciary (CTJ) has released a revised Crown Court Compendium, Parts I and II. This ninth edition reflects the position as at July 2024. See: LNB News 02/08/2024 82. Proceeds of crime SFO recovers funds from convicted property developer On 2 August 2024, Britain’s white-collar crime prosecutor confirmed it had recovered £86,000 (US$110,000) from a former commercial property developer, convicted of fraud over a decade ago, after identifying his acquisition...

This Practice Note maps significant past developments in EU artificial intelligence (AI) law. It sets out details of notable events and pertinent commentary on enacted legislation and other major developments, including issued guidance and EU-level strategies and action plans. This tracker addresses legislative developments from 2024 onwards. It is arranged into the following parts: Legislation published in the Official Journal Key non-legislative developments This tracker excludes nascent or anticipated future activity, such as legislation in progress or open consultations. For information on forthcoming developments in EU AI law, see Practice Note: EU artificial intelligence—horizon scanner. For a list of all AI resources, see Practice Note: Artificial intelligence (AI) resource kit. Legislation published in the Official Journal The table below sets out new EU AI-related legislation and substantial updates to existing AI laws. Entries are ordered in reverse chronological sequence, based on the Official Journal publication date. Items closer to the foot of the table are expected to take effect earliest. Note...

Chapter 9 of the UK Listing Rules (UKLRs) Chapter 9 of the Financial Conduct Authority (FCA) UK Listing Rules (UKLRs) sets out continuing obligations for any company that has a listing of equity shares in the equity shares (commercial companies) category, which the company must comply with to retain its admission to the Official List (terms in bold are defined in the FCA Handbook Glossary). For further detail on companies with a listing of equity shares in the equity shares (commercial companies) category, refer to Practice Note: The UK listing regime for more information. Under UKLR 6.6 R, a company with a listing of equity shares in the equity shares (commercial companies) category must include specified financial disclosures within its annual financial report. The UKLR 6.6 R obligations for both UK and overseas issuers with a listing of equity shares in the equity shares (commercial companies) category are also considered below, together with an overview of the UKLRs relevant to annual financial reports of other listed bodies, and a...

ARCHIVED: This Practice Note has been archived and is not maintained. A significant restructuring of the UK listing regime came into effect on 29 July 2024, removing the premium and standard listing segments and establishing a single listing category covering equity shares issued by commercial companies. That commercial companies category is highly disclosure-driven, and it operates alongside other categories, including shell companies, secondary listings, and closed-ended investment fund categories. To give effect to these changes, the UK Listing Rules sourcebook came into force, while the previous Listing Rules sourcebook was revoked. For further information and context, see Practice Note: Reform of the UK listing regime—fundamentals. This Resource Note describes the regime as it stood before 29 July 2024 and is retained solely for reference purposes. It signposts relevant commentary, analysis and resources designed to help with interpreting, and to provide practical guidance on applying, Chapter 2 of the former Listing Rules that were in force prior to 29 July 2024...

VERIFICATION NOTES These verification notes concern the prospectus (the Prospectus ) to be issued in connection with the proposed [ placing OR placing and open offer OR rights issue ] ( Capital Raising ) of [ up to ] [ insert number ] new [ insert class ] shares of [ insert nominal value ] each (the Shares ) of [ insert name of the Company ] together with the admission of the Shares to listing on the Official List of the Financial Conduct Authority ( FCA ) and to trading on the Main Market of the London Stock Exchange ( Main Market ). These Verification Notes (the Notes ) have been prepared by [ insert details of Company's solicitors ] for the purposes of protecting the Company, the directors of the Company (the Directors ) [ , the Proposed Directors of the Company (the Proposed Directors ) ] and others involved with the Capital Raising and the drafting of the Prospectus, which relates to the application for the...

This file houses [ insert organisation’s name ]’s in-house watchlist, augmenting information from formal, public watchlists with intelligence collected internally to support our sanctions screening activities. It is highly confidential and must never be disclosed outside the organisation. Select here to obtain the Excel register now...

Private and confidential [ Insert company name ] (Company) Introduction Director's questionnaire To be completed by [ insert date ] This questionnaire is issued in relation to the intended [ placing OR open offer OR rights issue ] of [ insert amount ] ordinary shares of [ insert nominal value ] pence each in the capital of the Company ( Ordinary Shares ), and the intended application for admission of the Ordinary Shares to [ listing on the Official List of the Financial Conduct Authority and to trading on the market for listed securities operated by London Stock Exchange plc OR trading on AIM ] ( Admission ). This document is important and you must respond to all questions honestly and without omission. Please complete every question in full and, if the space available is not sufficient, include any additional details on a separate sheet of paper, duly signed, dated and attached to this questionnaire. If the correct response is in the negative, please state...

Recognised growth market exemption from stamp duty and SDRT The recognised growth market exemption from stamp duty and SDRT covers securities admitted to trading on a recognised growth market, provided they are not listed on any market. Although people often say AIM shares are ‘listed on AIM’ or ‘AIM listed’, they are in fact unlisted; it is therefore better to describe them as ‘AIM traded shares’ or simply ‘AIM shares’. They are classed as unlisted because they are not included in the UK official list. Under section 1005(3) of the Income Tax Act 2007 (ITA 2007), a security admitted to trading on a UK recognised stock exchange counts as ‘listed’ only if it appears on the UK official list. Furthermore, section 99A(3) of the Finance Act 1986 confirms that the meaning of ‘listed’ in ITA 2007, s 1005(3)–(5) also applies to the references to ‘listed’ within the recognised growth market exemption from stamp duty and SDRT...