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As a result of the introduction 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 confirmed amendments to its Admission and Disclosure Standards to show the collapse of the previous premium and standard listing sections into the brand-new business business classification.
, chaired by Charlie Geffen. The objective of the taskforce was to consider the potential benefits of the UK moving to a T +1 securities settlement cycle and describe how this change could be implemented.
, chaired by Sir Douglas Flint.
In July 2023, the taskforce published an Interim Report (read our summary here) which made a variety of suggestions, including: legislation must be advanced, and business posts of association changed, as quickly as practicable to stop the issuance of brand-new paper share certificates; the government ought to advance legislation to need dematerialisation of all share certificates at a future date; the government ought to speak with provider and financier agents on the preferred personality of "residual" paper share interests and whether a time limitation should be imposed for the recognition of untraced Ultimate Beneficial Owners (UBOs); andintermediaries need to have a commitment, as a condition of participation in the cleaning and settlement system, to put in location typical innovation that enables them to respond to UBO demands from providers within an extremely short time frame.
Managing UK Enterprise Management Landscape in 2026Digitisation would target noted business with a view to lowering expenses and waste, and streamlining investor communication. The report proposes extra procedures to ensure that UBOs within the intermediated securities chain would have the ability to work out investor rights that are currently only guaranteed for registered shareholders, as well as procedures to boost interaction between business and UBOs.
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