On July 11, 2024, the UK Financial Conduct Authority published its final rules to reform the UK listing regime, with particularly significant implications for listings of equity shares in commercial companies. The FCA’s final rules remain broadly consistent with proposals on which it has previously consulted. The new rules, which will come into effect on July 29, 2024, are the biggest changes to the UK listing regime in over three decades and aim to create a simpler regime, with an increased emphasis on a disclosure-based approach intended to encourage growth and innovation of the UK capital markets and to support a wider range of UK listed companies. This memorandum gives an overview of the key changes.