How to Scale Mid-Market Expansion in 2026

As an outcome of the intro of the UKLR sourcebook in July 2024, both the London Stock Market (LSE) and FTSE Russell made consequential modifications to their guidelines. In July 2024, the LSE verified modifications to its Admission and Disclosure Standards to reflect the collapse of the previous premium and basic listing sectors into the new industrial business category.

It then issued a summary and Frequently asked questions confirming its view when the final 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 objective of the taskforce was to consider the potential advantages of the UK relocating to a T +1 securities settlement cycle and describe how this modification could be carried out.

, chaired by Sir Douglas Flint.

Building Resilient Supply Networks for 2026

In July 2023, the taskforce published an Interim Report (read our summary here) which made a variety of suggestions, consisting of: legislation ought to be advanced, and business articles of association changed, as quickly as practicable to stop the issuance of new paper share certificates; the government ought to bring forward legislation to require dematerialisation of all share certificates at a future date; the federal government should talk to company and investor representatives on the favored disposition of "residual" paper share interests and whether a time frame must be imposed for the identification of untraced Ultimate Beneficial Owners (UBOs); andintermediaries must have a responsibility, as a condition of involvement in the clearing and settlement system, to put in place typical technology that allows them to react to UBO demands from companies within an extremely short time frame.

ANSR July UK PRs

Digitisation would target noted companies with a view to minimizing costs and waste, and improving shareholder interaction. The report proposes additional steps to ensure that UBOs within the intermediated securities chain would be able to work out investor rights that are presently only ensured for registered shareholders, along with measures to improve communication in between companies and UBOs.