Essential Enterprise Management Tips for 2026

As a result of the intro of the UKLR sourcebook in July 2024, both the London Stock Market (LSE) and FTSE Russell made consequential changes to their rules. In July 2024, the LSE validated amendments to its Admission and Disclosure Standards to reflect the collapse of the previous premium and basic listing sections into the new commercial business classification.

It then issued a summary and FAQs validating its view when the last UKLR sourcebook was released in July 2024. Among the measures proposed as part of the Edinburgh Reforms in December 2022 was the establishment of the Accelerated Settlement Taskforce, chaired by Charlie Geffen. The objective of the taskforce was to think about the potential benefits of the UK transferring to a T +1 securities settlement cycle and detail how this change might be carried out.

, chaired by Sir Douglas Flint.

Developing Ethical Trade Chains for 2026

In July 2023, the taskforce released an Interim Report (read our summary here) that made a number of recommendations, consisting of: legislation needs to be brought forward, and business posts of association changed, as soon as practicable to stop the issuance of new paper share certificates; the government needs to bring forward legislation to need dematerialisation of all share certificates at a future date; the government ought to seek advice from provider and financier representatives on the preferred disposition of "residual" paper share interests and whether a time frame ought to be imposed for the recognition of untraced Ultimate Beneficial Owners (UBOs); andintermediaries must have a responsibility, as a condition of participation in the clearing and settlement system, to put in location typical innovation that enables them to react to UBO demands from providers within a very brief time frame.

ANSR July UK PRs

Digitisation would target listed companies with a view to decreasing costs and waste, and streamlining shareholder communication. The report proposes additional procedures to ensure that UBOs within the intermediated securities chain would be able to work out shareholder rights that are currently only ensured for registered shareholders, as well as measures to enhance communication in between companies and UBOs.