The Financial Conduct Authority (FCA) has published Policy Statement PS21/22 in which it has made a number of targeted changes to the Listing Rules in order to remove barriers to listing in London.
From an employees' share schemes perspective, the key changes to note are those to Listing Rules 13.8.11R and 13.8.14R.
In connection with any circular to shareholders regarding approval of or changes to an employees’ share scheme or long-term incentive scheme, if the scheme rules or full details of the proposed amendments are not sent to shareholders with the circular, they must be available on the national storage mechanism from the date of sending the circular.
The new rules come into force on 10 January 2022.
For more information on the changes in Policy Statement PS21/22 please see our Corporate Notes blog
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