FCA Deletes Seven-Day Wait Between IPO Prospectus and Research on August 5

According to FCA policy statement PS26/16, the Financial Conduct Authority scrapped the seven-day waiting period between the publication of an approved IPO prospectus and connected research on August 5. The rule, in effect since 2018, previously required at least a week between prospectus release and research publication by banks managing the IPO. The reform aims to boost UK listing competitiveness, as London IPO activity fell sharply to £2.1 billion in 2025 from £16.8 billion in 2021. Connected research can now be published simultaneously with the prospectus, compressing the public phase of UK IPOs.
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