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Listing rules

The responsible authority, market segment, security type and jurisdiction determine the applicable requirements. They can address eligibility, financial information, governance, disclosure and transactions. Listing, public offering and admission to trading are related but distinct concepts, and their processes should not be treated as identical. Compliance supports information and market arrangements but does not guarantee the accuracy of every statement or the quality of an investment. Assess the current requirements of the actual jurisdiction and market segment for a real transaction.

Worked example

A company considers joining a market segment and assesses its eligibility, reporting and continuing obligations. It separately considers whether new shares will be offered and whether proceeds go to the company or selling holders.

Common mistake

Assuming one exchange’s rules apply everywhere or that merely obtaining a listing guarantees new funds or investor protection from loss.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA FM Supporting September 2026–June 2027
ACCA FR Supporting September 2026–June 2027
ACCA SBR Supporting September 2026–June 2027