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UK and EU corporate law weekly: FCA PISCES consultation, Listing Rules guidance, reporting thresholds overhaul, governance changes, IFRS S1/S2 endorsement, EU ESG Ratings Regulation, key deadlines—19 December 2024

Published on: 19 December 2024

Published by a LexisNexis Corporate expert
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Corporate Highlights 2024/2025

Equity capital markets

PISCES: FCA consults on framework for regulated trading platform for private company shares The Financial Conduct Authority (FCA) has issued consultation paper CP24/29 inviting views on a draft regulatory regime for the Private Intermittent Securities and Capital Exchange System (PISCES), a new platform intended to enable periodic trading of private company shares via market infrastructure. Comments close on 17 February 2025. HM Treasury plans to lay a statutory instrument before Parliament by May 2025 to establish the legal basis for the PISCES Sandbox, and the FCA expects to publish its final rules soon afterwards. See: LNB News 17/12/2024 49.

Listing Regime: FCA publishes Primary Market Bulletin 53 with associated consultation and finalised guidance The FCA has released Primary Market Bulletin 53 (PMB 53), which includes consultation GC24/6 on proposed changes to guidance in the Knowledge Base following the implementation of the UK Listing Rules on 29 July 2024...

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