Rules and regulations
Main Market companies subscribe to one of the world’s most respected sets of admission and disclosure standards, thereby demonstrating the quality of their business to investors. This helps to encourage investor confidence and maintain Europe's deepest pool of capital.
The regulatory requirements and considerations for a Main Market company may vary depending on the segment of the market its on:
- Premium - the UK Listing Rules and London Stock Exchange's Admission and Disclosure Standards
- Standard - the UK Listing Rules and London Stock Exchange's Admission and Disclosure Standards
- High Growth Segment - London Stock Exchange's High Growth Segment Rules and Admission and Disclosure Standards
However, as the Main Market is an EU Regulated Market, companies must produce a full Prospectus to be approved by the the UK Listing Authority (UKLA) regardless of the segment they are applying for admission to.
In its role as the UKLA, the Financial Conduct Authority has a legal obligation to oversee the admission process to a Regulated Market, to assess issuers' eligibility and to ensure that its rules are met. This involves the UKLA reviewing and approving the Prospectus (or Listing Particulars). This document – which will be submitted to the UKLA by your Sponsor or Key Adviser – primarily contains information on the company and its business, and must satisfy the Prospectus Rules and the Listing Rules (as applicable).
The UKLA maintains a dialogue with your company’s advisers until the relevant eligibility requirements are met. In parallel to the UKLA’s application process, you must apply to the Exchange to have your company’s securities admitted to trading on its markets and meet the requirements of the Exchange's Admission and Disclosure Standards (and the HGS Rules, if relevant). The Exchange works to ensure your company receives the maximum benefit from being traded on its markets. If you are considering applying to join the Main Market you should contact the Exchange as early as possible so that we can assist you through the admission process.
Admission becomes effective only when all the relevant documents have been approved by the UKLA, and the decision to admit the securities and admit them to trading has been announced jointly by the Exchange and the UKLA.Once your company is admitted, it becomes subject to the continuing obligations which apply to all admitted companies. These obligations include a range of requirements, such as ensuring that information which might affect the share price is made available to all investors at the same time, and that financial results are released on a timely basis in an acceptable format.
Admission and disclosure standards (file pdf - 544 KB)