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FCA consultation on the UK equity IPO process - joint Law Society and City of London Law Society response

21 July 2016

The Financial Conduct Authority (FCA) has published a discussion paper, exploring possible reform options and amendments to the regulatory framework to address its concerns and improve the UK initial public offering (IPO) process. The IPO process helps companies raise finance for investment opportunities for institutional investments, such as pension funds and insurance companies.

The FCA acknowledges that the IPO process has many strengths, but it has taken note of recent reports and studies which recommend a more timely publication and provision of key information to investors.

The Law Society and the City of London Law Society have jointly prepared a response to this discussion paper. We believe that the IPO process can be significantly improved if the issuer's principal disclosure document is made available to potential investors earlier in the process.

Please read our full response below.

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