Consultation Paper on ISE Listing Regime

The ISE issued a Consultation Paper with appendices (click here) which opened up for debate proposals to revise the structure of the ISE listing regime for companies trading on the Main Securities Market. The Consultation Paper followed on from the amended structure to the UK listing regime which was adopted by the Financial Services Authority in 2010.

The Consultation Paper discussed the possibility of re-labelling the Primary and Secondary listing regimes in Ireland as "Premium" and "Standard" respectively. A "Premium" Listing would denote a company required to comply with the existing requirements of the ISE Listing Rules (which includes the UK Corporate Governance Code and the Irish Corporate Governance Annex). A "Standard" listing would denote a company required to comply with the minimum standards as outlined in various EU Directives.

The consultation also included minor changes to the Listing Rules which were all accepted by respondents.

Following analysis of the responses and discussions with the respondents, the ISE decided to retain the existing primary and secondary listing regime.  The ISE will keep the situation under review and if the standard listing regime in the UK starts to be used by more than a tiny proportion of the total number of listed UK companies this issue will be reconsidered.

Please click here to access the feedback statement setting out the analysis in more depth.