New UK listing notification rules clarified with temporary forbearance
The Financial Conduct Authority has clarified its supervisory approach to new UK Listing Rules regarding admissions to trading. It will not take enforcement action for certain notification requirements while it consults on amendments.
Navigating new notification rules
On 19 January 2026, the Public Offers and Admissions to Trading Regulations (POATRs) regime introduced a new requirement (PRM 1.6.4R) for issuers to notify a Regulatory Information Service (RIS) of any admission to trading within 60 days.
However, potentially overlapping requirements in existing UK Listing Rules (UKLR 6.4.4R(4) and equivalents) have created uncertainty.
This confusion arose particularly for issuers who previously relied on a block listing exemption, which was removed with the deletion of UKLR 20.6 on the same date.
The FCA acknowledges this unintended consequence for regular issuers of new listed shares.
Avoiding duplicative announcements
The original policy intention behind the 60-day notification period in POATRs was to streamline transparency by allowing issuers to group multiple admissions into a single notification.
This aimed to avoid frequent, detailed announcements for each share admission.
The FCA clarifies that it was not its intention to force issuers, previously notifying only every six months under block listings, to now make immediate notifications for each individual issue and again on admission to trading.
This temporary forbearance addresses the practical impact of the rule changes.
Pragmatic pause for clarity
This statement provides welcome regulatory relief, addressing an unintended consequence of the new listing regime.
It demonstrates the FCA's responsiveness to market feedback and its commitment to proportionate regulation.
While the formal rules remain, this pragmatic supervisory pause offers crucial clarity and reduces immediate compliance burdens for affected issuers.