Professional Review of UK Global Markets

As a result of the intro of the UKLR sourcebook in July 2024, both the London Stock Market (LSE) and FTSE Russell made consequential changes to their rules. In July 2024, the LSE confirmed modifications to its Admission and Disclosure Standards to show the collapse of the previous premium and standard listing sections into the brand-new industrial business classification.

It then released a summary and FAQs verifying its view when the last UKLR sourcebook was released in July 2024. Among the steps proposed as part of the Edinburgh Reforms in December 2022 was the establishment of the Accelerated Settlement Taskforce, chaired by Charlie Geffen. The goal of the taskforce was to think about the possible benefits of the UK transferring to a T +1 securities settlement cycle and detail how this modification might be executed.

, chaired by Sir Douglas Flint.

Navigating British Trade Reports for 2026

In July 2023, the taskforce released an Interim Report (read our summary here) which made a variety of recommendations, including: legislation should be brought forward, and business short articles of association changed, as soon as practicable to stop the issuance of new paper share certificates; the government ought to bring forward legislation to need dematerialisation of all share certificates at a future date; the government needs to seek advice from with company and investor representatives on the preferred personality of "recurring" paper share interests and whether a time frame need to be enforced for the recognition of untraced Ultimate Beneficial Owners (UBOs); andintermediaries must have a commitment, as a condition of participation in the cleaning and settlement system, to put in location typical technology that allows them to respond to UBO requests from providers within a really brief time frame.

ANSR July UK PRs

Digitisation would target noted business with a view to lowering expenses and waste, and enhancing investor interaction. The report proposes additional procedures to make sure that UBOs within the intermediated securities chain would be able to work out investor rights that are currently just ensured for signed up shareholders, as well as procedures to enhance communication in between business and UBOs.