N01/26 - Amendments to LSE A&D Standards

Introduction

1.   This Notice confirms the amendments to the London Stock Exchange's ("Exchange") Admission and Disclosure Standards ("Standards") to implement the Public Offers and Admissions to Trading Regulations 2024 ("POATRs"), which will replace the UK Prospectus Regulation. 

2.   Amendments have also been made to implement the Financial Conduct Authority's ("FCA") new Prospectus Rules: Admission to Trading on a Regulated Market sourcebook ("PRM") as well as changes to reflect the FCA's changes to the Listing Rules.

Amendments to the Rulebook

3.   Administrative changes are being made to the Standards to reflect implementation of the POATRs and PRM.

4.   Following the removal of Listing Particulars as an admission document, applications for admission of new classes of securities to the Professional Securities Market (an Officially Listed MTF for specialist debt and GDR securities) will no longer be able to be submitted to the Exchange.  However, further issues of securities of a class already admitted to the Professional Securities Market will still be able to apply for admission in accordance with the normal further issue requirements.

5.   We would also like to take this opportunity to clarify that although the FCA will, from the 19th January 2026, admit securities as a class to the Official List, there will be no changes to the requirements in the Standards applying for admission to trading of securities.  Therefore, applications for admission to trading of further issues of a class of securities already admitted to trading will still need to be made to the Exchange even though no corresponding application will be made to admit securities to the Official List.

6.   Amendments have also been made to remove references within the Standards to a Form 1, as all applications for admission to trading of securities are to be made via the Self Service Portal, which was successfully implemented during 2025.

Effective date

7.   The amendments to the Standards will become effective from 19 January 2026. An updated version of the Standards will be available on the Exchange's website from that date.

Queries

8.   Queries on either this Notice or the Standards should be addressed to: [email protected]

Nilam Statham

Co- Head of Market Regulation

This Stock Exchange Notice will be available on the website at: https://www.londonstockexchange.com/resources/london-stock-exchange-notices