Jurisdiction(s):
United Kingdom

UK Listing Rules Listing Principles: application, systems and controls, director training, FCA engagement, shareholder equality, market disclosures, sponsor confirmations and enforcement case summaries

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Practice notes

Listing Principles

This Practice Note centres on the Listing Principles set out in chapter 2 (UKLR 2) of the UK Listing Rules (UKLR) sourcebook issued by the Financial Conduct Authority (FCA). It also includes a summary table of disciplinary action taken by the FCA against listed companies for contraventions of the Listing Principles, alongside measures for infringements of particular rules.

The Listing Principles sit above the provisions that govern the broader listing framework, namely:

the UKLR
the disclosure obligations in articles 17, 18 and 19 of the UK Market Abuse Regulation (disclosure requirements)
the rules on notifying and disseminating information and on major shareholdings in the Disclosure Guidance and Transparency Rules (DTR) (transparency rules)
the corporate governance rules in DTR 1B, DTR 4 and DTR 7 (corporate governance rules)

The Listing Principles articulate the fundamental duties of listed companies and were brought in to secure compliance with the spirit, as well as the letter, of the rules comprising the wider listing regime, with the objective of supporting a fair and orderly market. In common with other provisions of the UKLR, the Listing Principles are enforceable by the FCA...

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Web page updated on 22/05/2026

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