UK FCA Reportedly Considers Shortening IPO Timelines to Boost London Market

The UK's Financial Conduct Authority (FCA) is considering rule changes to shorten the initial public offering (IPO) process by about a week, aiming to enhance London's attractiveness as a capital markets hub. The regulator is in early-stage discussions about potentially scrapping its two-stage filing system, which critics argue makes London IPOs more vulnerable to market fluctuations compared to other European exchanges. This proposed reform would reverse a 2018 rule designed to incorporate external research into IPOs to provide investors with more independent perspectives. While the FCA has not set a timeline for these changes and there is no certainty they will be implemented, the move is part of broader efforts to speed up IPOs and boost listings in London. Other recent reforms include allowing shares to be offered to the public three days after prospectus publication, down from six, and enabling companies to conduct more fundraising without shareholder votes. The FCA declined to comment publicly on the discussions.