How to Navigate Mid-Market Expansion in 2026

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 modifications to its Admission and Disclosure Standards to reflect the collapse of the previous premium and basic listing sections into the new industrial business classification.

It then issued a summary and Frequently asked questions confirming its view when the final UKLR sourcebook was released in July 2024. Among the measures 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 think about the prospective benefits of the UK relocating to a T +1 securities settlement cycle and outline how this modification could be implemented.

, chaired by Sir Douglas Flint.

Strategic Analysis of Mid-Market Global Markets

In July 2023, the taskforce published an Interim Report (read our summary here) which made a number of suggestions, including: legislation ought to be brought forward, and business posts of association changed, as quickly as practicable to stop the issuance of new paper share certificates; the federal government must bring forward legislation to need dematerialisation of all share certificates at a future date; the government needs to speak with provider and financier representatives on the preferred personality of "residual" paper share interests and whether a time frame ought to be imposed for the recognition of untraced Ultimate Beneficial Owners (UBOs); andintermediaries ought to have a commitment, as a condition of participation in the cleaning and settlement system, to put in location common technology that allows them to react to UBO demands from providers within a really brief time frame.

ANSR July UK PRs

Digitisation would target listed business with a view to minimizing expenses and waste, and enhancing shareholder communication. The report proposes additional measures to make sure that UBOs within the intermediated securities chain would have the ability to work out investor rights that are presently only ensured for signed up shareholders, in addition to steps to improve communication in between companies and UBOs.