{
  "id": 1863782,
  "title": "IPO tweaks are welcome, but London’s market needs root and branch reform",
  "url": "https://urgent.news/2026/08/19/ipo-tweaks-are-welcome-but-londons-market-needs-root-and-branch-reform",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T04:15:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/ipo-tweaks-are-welcome-but-londons-market-needs-root-and-branch-reform/"
  },
  "original_language": "en",
  "account": "Samantha Myers believes that recent Financial Conduct Authority (FCA) IPO reforms are welcome adjustments, but more substantial changes are required to bolster London's position in the listings arena. When the FCA issued a consultation on rules introduced in 2018, which included a seven-day connected research waiting period and information-sharing requirements, the overwhelming response was positive support for change. Concerns about the 2018 regime, as outlined in a 2023 Treasury Investment Research Review led by Rachel Kent, showed that it had increased market risk and placed London at a competitive disadvantage compared to overseas venues. London cannot bear the weight of this disadvantage, and competitors are quick to capitalize on it. European venues typically finalize IPOs in nine to 12 days following announcement, while the UK's outdated rules hindered this process, making it impossible to match European timetables. Despite the reform's removal of the seven-day wait and the lessened complexity of the listing process, these changes alone are insufficient to propel the UK ahead of the competition. The reforms mainly address execution risk and administrative burden but do not tackle the deeper structural factors that compel companies to list overseas, such as access to deeper pools of specialist capital, higher valuations, and broader analyst coverage post-IPO. While the FCA is considering further reforms to the remaining 2018 IPO information flow rules, the market needs a more comprehensive overhaul. The FCA's swift response to the consultation on the 2018 rules, announced in April and implemented within weeks, demonstrates agility in the face of international competitiveness challenges. However, bold action is still needed to address the myriad obstacles suppressing IPOs in the UK, and if policymakers can tackle these issues together, the UK could regain its competitive edge.",
  "summary": "The FCA's recent IPO reforms are welcome tweaks, but London needs bolder action to win the listings race, writes Samantha Myers.",
  "key_points": [
    "Recent FCA IPO reforms welcome but insufficient alone",
    "2018 regime increased market risk, disadvantaged London",
    "London IPOs take 9-12 days vs European 9-12 days"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}