Frequently asked questions

Please refer to the appropriate links below:

Submission Process – Prospectuses
Submission Process – Circulars
Submission Process – Eligibility

You can pay your UKLA fees by one of the following methods:

• cheque, payable to the Financial Services Authority and sent to your UKLA contact on this case;
• credit card, by calling 020 7066 8333 (option 3); and
• electronic bank transfer, details of which can be found on our electronic payment form (to accompany all such payments) available at Forms and Checklists.

If you have any questions on the above please contact Listing Applications on 020 7066 8333 (option 3).

Vetting fees payable under FEES 3 Annex 5R are due with the first draft of a document.  If you do not include the vetting fee with the first draft of the document, we will not make further comments until payment has been made.

Application fees payable under FEES 3 Annex 4 are due at the time the application is made.  We cannot proceed with the listing hearing, and list the securities, until we receive the application fee.

See also Fee information

You need a sponsor if the document relates to an issuer with a premium listing of its equity shares and it is of a type shown in LR8.2.1.

Please refer to:

• Service Standards – for prospectuses and circulars
• Helpdesk – for helpdesk calls and written submissions
• Eligibility – for eligibility letters

Please see the public offer factsheet for more help and information.

No. A new applicant cannot incorporate information by reference unless it has previously been admitted on another European regulated market and has therefore had information filed or approved with another competent authority.

You can incorporate information by reference into a prospectus if we (or any other home competent authority), have previously or simultaneously approved it. You must have filed the information you are incorporating by reference with our Document Viewing Facility (or the equivalent at any other home competent authority) or have announced it through a Regulatory Information Service (or the equivalent at any other home competent authority) as long as the information incorporated by reference meets the requirements set out within PR 2.4.

Only information on the issuer can be incorporated by reference into a circular and the information must have been filed with our Document Viewing Facility and meet the requirements of LR13.1.3 – LR13.1.6.

If documents incorporated by reference are addressing PD or listing rules, you will need to submit them to the UKLA for vetting purposes. You do not need to do this if they have already been submitted in a previous transaction approved by the UKLA.

You should present all target financial information in a form consistent with the accounting policies used in the acquirer's last accounts. However, the approach may differ if the target is also listed – see the July 2007 edition of List! for more details.

If you are a third-country issuer, you must prepare your financial information in accordance with Regulation (EC) No 1606/2002, or to your country's equivalent national accounting standards. As stated within annex 4.13.1 of the Prospectus Regulations, if such financial information is not equivalent to these standards, you must present it in the form of restated financial statements.

You do not need to restate your accounts if you satisfy one of the conditions in the transitional provisions to the prospectus directive as set out in Commission Regulation (EC) No EC1289/2008 which updates Commission Regulation (EC) Nos 1787/2006 & 809/2004. These transitional provisions will apply until the mechanism for recognising overseas accounting standards as equivalent has been put in place.

We will need to ensure the new holding company is eligible for listing. But where the transaction just involves inserting the new holding company, we will not insist on a formal eligibility letter. We will just look at the eligibility of the new company as part of the vetting of the prospectus.

In other cases a formal eligibility submission will be required.

Please refer to:

Submission Process – Prospectuses
Submission Process – Circulars
Submission Process – Eligibility

If we do not call you in the morning after allocation then please call our Helpdesk on 020 70668333 and select option 1.

The DTRs are dealt with by our Company Monitoring team. You can contact them by calling the Helpdesk on 020 70668333 and selecting option 4.

You can contact Listing Applications by calling the Helpdesk on 020 70668333 and selecting option 3.

GDRs are dealt with by the Global Debt Group. The Global Debt Group may be reached by calling the helpdesk and selecting option 6.

Please see Written Submissions – Helpdesk.

No, we do not accept email submissions. You will need to send your question by post or fax – see Written Submissions – Helpdesk

See checklists

Please see Circulars.

You should make all class test submissions in writing (see Written Submissions – Helpdesk for how to do this). The letter should set out the results of all of the applicable class tests (including the test you think is anomalous). You should explain clearly why you think that test is anomalous and suggest an appropriate substitute test.

When you contact us for help we will not ask you the identity of the company concerned. However, in those circumstances we can only give general advice that is not binding on us.

Issuers may wish to announce transactions along with wording that it may require shareholder approval where our assistance has been sought and an announcement is required prior to the issue being resolved.

Please see the Passporting Factsheet

Please see Electronic Submissions to the UK Listing Authority.

You should structure the elements of a prospectus in the following order:

1. a table of contents;
2. the summary;
3. the risk factors; and
4. the other information items included in the schedules and building blocks that you have used when drawing up the prospectus.

You must set out items in this order, but you may include a cover note with general information about the issuer at the start of the prospectus.