Articles

On 5 August 2026, the Financial Conduct Authority announced that it was simplifying the IPO rules. 

The Authority’s policy statement announces two changes to the rules around how information is shared during a UK IPO. The changes have been introduced following a consultation process that ran from April to May 2026.

Both changes are designed to make the IPO process faster, cheaper and less complicated, reducing execution risk for issuers, lowering compliance costs and making it easier for companies to access public markets.

What changes is the FCA making?

The announcement introduces two changes; the FCA will:

1. Remove the 7-day waiting period for connected research during an IPO
2. Simplify information-sharing requirements for issuers and firms

Looking to balance enabling growth, investment and innovation with maintaining market integrity and investor protection, the FCA hopes the edit will make the UK listing regime more efficient.

Let’s explore the changes in a little more detail.

Change 1: The waiting period has been scrapped

Firms no longer need to wait seven days between publishing an approved registration document/prospectus and connected research from the banks.

In practical terms, this means the process for most IPOs will now be seven days shorter, reducing the risk that market conditions change — or that something goes wrong — in the interim.

Change 2: A sharing requirement has been dropped

Firms publishing connected IPO research no longer need to share the same information with a range of unconnected analysts as they do with their own research analysts. While banks can choose to share this information with independent analysts on a commercial basis, they are no longer compelled to by regulation. 

Why does this matter?

From a market perspective, the FCA hopes the changes will make London a more attractive place for companies to list. Removing unnecessary rules that add cost and delay — without clear benefits — is part of a broader effort to make the UK listing process more competitive.

From the perspective of the company looking to list, these changes should make the process quicker and less expensive. If this is a route you are looking to take, Perivan’s expertise in supporting on IPOs could help you. 

We have extensive experience of delivering shareholder communications that help even the most complex and demanding transactions to run smoothly, efficiently and quickly. Find out more or contact us for a chat about our corporate transaction capabilities.