Global Trustee and Fiduciary Services Bite-Sized Issue 2 2025

18 QUICK LINKS BENCHMARKS REGULATION CRYPTOASSETS DORA EMIR FSB MIFID II/MIFIR MMF SUSTAINABLE FINANCE/ESG T+1 ASIA EUROPE INTERNATIONAL LUXEMBOURG NETHERLANDS NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 2 | 2025 FCA Sets Out Further Proposals to Support Growing Business and Investment Opportunities On the 31 January 2025, the FCA set out proposals (CP25/2) to make it easier for listed companies to issue corporate bonds that wealth managers and retail investors can buy. The FCA says it is consulting on a single standard for corporate bond prospectuses, covering both large and small (less than GBP 100,000) bond sizes, which would reduce costs and barriers for companies raising capital and give investors the information they need to make an informed decision. The FCA says it is also proposing to simplify the requirements that apply to listed companies when they issue further securities. Among other changes, the FCA is proposing to streamline the process by cutting red tape. The FCA states that the new public offer platforms (CP25/3) will offer an alternative route for companies to raise capital, including from retail investors, and promote scale-up capital raising for smaller companies. Also, it will enable companies to make larger offers of shares or bonds to a broad investor base outside of public markets via an authorised firm, similar to crowdfunding platforms. In its announcement , the FCA reminds firms that it recently set out proposals for a new private stock market , PISCES, on which shares in private companies will be bought and sold. This follows the FCA’s wide-ranging reforms to the UK’s world-leading markets to boost competitiveness, including: • Helping a wider range of companies to list on a UK exchange; • Making it cheaper and easier for companies to raise money in the UK; • Giving asset managers greater freedom in how they pay for investment research; • Opening the Digital Securities Sandbox so firms can test innovative new technologies; and • Delivering a plan for regulating cryptoasset. The deadline for responses for both consultations is 14 March 2025. Link to CP 25/2 here Link to CP25/3 here