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Given the increasing popularity of special purpose acquisition companies (SPACs) and the desire to retain London’s competitiveness in the IPO space, on 31 March 2021, the Financial Conduct Authority (FCA) announced its plan to consult on SPAC-related amendments to its listing rules and associated guidance. The FCA plans to remove the requirement for suspension of trading of a SPAC upon the announcement of an acquisition, and also plans to update related guidance to strengthen protection for investors in SPACs. The restrictive nature of the suspension requirement has seen the UK lag behind the United States and certain EU jurisdictions in the recent SPAC “boom,” and its removal could enable UK SPAC investors and companies to benefit from this recent trend in the global investment space.
Key Regulatory Topics: Weekly Update 26 Feb - 4 Mar 2021 | Allen & Overy LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
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Recent regulatory developments of interest to financial institutions and markets. Also check our Financial institutions general regulatory news of broader application in the Related Materials links.
Contents
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Brexit and Debt Capital Markets transactions: some practical perspectives
Following the end of the Brexit transition period, debt capital markets participants may now need to consider both EU rules and the parallel UK rules for EU and UK transactions, particularly those that are cross-border. Although UK rules currently largely follow the EU rules (as these were onshored wholesale), t
MIL-OSI United Kingdom: Independent review recommends reforms to UK Listing rules to boost growth and markets foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.