On July 19, 2022, the Secondary Capital Raising Review (the “SCRR”) published its recommendations for reform of the UK’s capital markets. As suggested by the UK Listing Review, the SCRR was established by HM Treasury with a view to making recommendations on how to improve the efficiency of further capital raising processes by companies already listed on the main market of the London Stock Exchange. The SCRR also interacts with other ongoing reviews, including the UK Prospectus Regime Review and the Primary Markets Effectiveness Review. The SCRR has made 21 recommendations. Since the recommendations were published, key stakeholders have expressed support for taking them forward. The suggested timeframes for their implementation range from immediately, near-term and medium-term, depending on the recommendation in question.