UK Listed Companies

FCA PLANNED REGULATORY INITATIVES

The FCA published its Regulatory Initiatives Grid setting out the planned regulatory initiatives for the next 24 months.

The Grid confirms that the FCA:

• is aiming to publish final rules and policy statements in relation to the new public offers and admissions to trading regime in summer 2025, to take effect in early 2026; and
• will publish its final rules relating to the Private Intermittent Securities and Capital Exchange System (PISCES) sandbox once the statutory instrument providing the legal framework has come into force.

Updated timings on ongoing initiatives include:

• Stewardship Code – changes will take effect in 2026;
• ISSB disclosure standards – the FCA intends to consult on disclosure requirements for UK listed companies, as well as on strengthening its expectations for transition plan disclosures in Q3 2025;
• T+1 settlement cycle – the UK will move to a T+1 settlement cycle on 11 October 2027.