05/05/2026
The Financial Conduct Authority (FCA) has proposed removing the mandatory seven-day delay for publishing "connected" research in IPOs, allowing it to be released simultaneously with the prospectus. Proposed in Consultation Paper CP26/14 on 27 April 2026, this move aims to streamline the UK IPO process, reduce costs, and enhance the competitiveness of London markets.
At B&C, streamlining the IPO process is close to our hearts, which is why - at the request of major investment banks - we built our IPO Research Online and iRoadshow platforms to sit alongside our Prospectus production services.
Key aspects of the FCA's proposal include:
- Removal of waiting period: the proposal aims to scrap the 7-day or 1-day waiting period between the publication of an approved prospectus/registration document and the release of connected research;
- Equality of information: the FCA proposes to remove the requirement for syndicate banks to share the same information with unconnected analysts as they do with their own analysts, which was introduced in 2018;
- Overall goal: The changes seek to modernise the IPO process, reducing market risk and the complexity which participants say resulted from the 2018 rules.
The consultation closes on 29 May 2026, with the goal of strengthening the UK as a primary listing venue. Have your say here.
To find out how we can help you minimise deal disruption and costs, while maximising efficiency & confidentiality across the IPO process, chat with us today: hello@blackandcallow.com
