Recommendation 26

The Government should carry out a post-implementation review of reforms to the London Stock Exchange and Alternative Investment Market within 12 months of implementation to identify a second wave of reforms to reduce regulations, costs and audit burdens and stimulate new listings. The review should contain clear metrics—such as IPO volumes, listings costs, retail participation rates and delistings—which will allow us to examine progress in future scrutiny activities. (Recommendation, Paragraph 96)