The Listing Rules (LR) are a set of regulations applicable to any company listed on a
United Kingdomstock exchange, subject to the oversight of the
Financial Conduct Authority (FCA). The Listing Rules set out mandatory standards for any company wishing to list its shares or securities for sale to the public, including principles on
executive pay and the requirement to
comply or explain noncompliance with the
UK Corporate Governance Code, the requirements of information in a
prospectus before an
initial public offering of shares, new share offers, rights issues, disclosure of price sensitive information, or
takeover bids for companies.
Overview
LR 1, Preliminary: All securities
LR 2, Requirements for listing: All securities
LR 3, Listing applications: All securities
LR 4, Listing particulars for professional securities market and certain other securities: All securities
LR 5, Suspending, cancelling and restoring listing: All securities
LR 6, Additional requirements for premium listing (commercial company)
The
London Stock Exchange has had a long tradition of
self-regulation. Previous versions of the same kinds of rules were known as the rules on "Admission of Securities to Quotations" or "Admission of Securities to Listing".
In October 2010 the former UK Listing Authority operated as part of the
Financial Services Authority, however after the FSA's abolition, it became part of the newly formed
Financial Conduct Authority, and since 2017 the reference to the UKLA as a separate body has been phased out.