Who is responsible for establishing and enforcing conditions for listing and ongoing obligations for listed companies?

The UK Listing Authority (UKLA) is indeed the correct answer, as it is responsible for establishing and enforcing the conditions for listing and the ongoing obligations for companies listed on the London Stock Exchange. The UKLA operates under the Financial Conduct Authority (FCA) and plays a significant role in regulating the markets by ensuring that companies adhere to the standards required for transparency and investor protection.

The UKLA's main tasks include assessing applications for listing, setting rules for how companies should report financial and operational information to the market, and monitoring compliance with listing rules. By enforcing these obligations, the UKLA aims to maintain high standards of corporate governance and accountability, ultimately enhancing investor confidence in the listed markets.

In contrast, while the FCA does oversee the UKLA and has regulatory authority, its focus encompasses a broader array of issues, such as market conduct and promoting competition within the financial services industry. The EU Commission, prior to Brexit, had a role in establishing regulatory frameworks across member states, but with the UK’s departure from the EU, its influence in this context has diminished. The London Stock Exchange acts as the venue for trading and may set certain operational guidelines, but the authority to establish and enforce listing conditions fundamentally lies with the UKLA.

Thus, the