On 13 October 2025 the FCA fined an employee for insider dealing for selling his own and close family member’s entire shareholding whilst in possession of, and using, inside information.  The FCA has imposed a financial penalty of £100,281 (reduced from £126,575).

This latest edition of Primary Market Bulletin discusses the implementation timing for the new prospectus regime and consults on new guidance notes to supplement the new regime.

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: Notification requirements for share buybacks The FCA is consulting on changes to the Listing Rules regarding the notification requirements for share buybacks. LSE publishes 2026 Dividend Procedure Timetable The London Stock Exchange plc has published its dividend procedure timetable for 2026. Market soundings at corporate finance firms The FCA has published the latest edition of Market Watch no.83. In this edition the FCA focus on the Market Abuse Regulation (MAR) - market soundings regime and share their observations following a review of the systems and control at corporate finance firms over the last five years.

The FCA has published the latest edition of Market Watch no.83. In this edition the FCA focus on the Market Abuse Regulation (MAR) - market soundings regime and share their observations following a review of the systems and control at corporate finance firms over the last five years.

Summary Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: Mandatory identity verification for directors, LLP members, PSCs and others From 18 November 2025, new rules are being phased in which will require directors, LLP members, PSCs (people with significant control) and others to verify their identify at Companies House. Failure to do so will be a criminal offence. Removal of company registers - ECCTA Companies House has confirmed that companies will no longer need to keep their own local registers of officers and PSCs.  Move to GOV.UK One Login for access to Companies House WebFiling accounts From 13 October 2025 companies will need to use GOV.UK One Login to sign in to their Companies House WebFiling account. This article explains what companies can do now to prepare for this. Late payments The government publishes a package of measures to assist small businesses in tackling the long-standing issue of late payments.

The Takeover Panel has published a consultation paper on dual class share structures, IPOs and share buybacks. The proposed amendments to the Takeover Code clarify how the mandatory offer requirements apply to a company with a dual class share structure when a shareholder’s percentage of voting is increased as a consequence of a trigger event.Comments on the consultation paper should be made by 26 September 2025. Any changes will come into effect in Q1 2026.The Panel has also published two new Practice Statements on (i) profit forecasts, quantified financial benefits statements and investment research and (ii) unlisted share alternatives.

The Upper Tribunal has upheld the FCA’s decision that the CEO and CFO of Metro Bank were knowingly concerned in the Bank’s breach of the Listing Rules.The decision serves as a reminder of the importance for listed company directors to ensure that any market disclosures made by a listed company are accurate, not misleading or deceptive, and do not omit anything likely to affect the import of the information that is disclosed.

The ‘Jewel in the Crown’ of London’s markets, AIM has been a central feature of UK capital markets for the last 30 years providing growing companies with access to capital and liquidity. Now the London Stock Exchange would like stakeholders to provide feedback on the overall functioning and positioning of AIM along with input on a number of specific proposals for changes to the AIM Rules. Comments are requested by 16 June 2025. After significant reform to the UK Listing Rules, this discussion paper is the next step in getting the UK’s capital markets ecosystem ‘match fit’. With AIM companies contributing approximately £68bn to the UK economy (more than agriculture, fishing and forestry combined), the importance of this paper cannot be overstated in the context of the UK’s growth agenda.

The FCA has published Primary Market Bulletin (PMB) No 54 outlining its concerns around the unlawful disclosure of inside information during the course of M&A transactions.