Primary Market Regulation Manager - FTC

A unique and exciting opportunity to join the Primary Market and AIM Regulation team (“PMAR”), a dynamic and impactful team working in a live market environment.

PMAR sits within the wider Market Regulation team of LSE plc, the Recognised Investment Exchange. The team consists of experienced lawyers, accountants and regulators and reports to the Co-Head of Market Regulation.

PMAR is responsible for the primary market regulation of all markets operated by LSE plc, including AIM and the International Securities Market (ISM). This work includes:

• Determining the application of primary market rules to issuers, including eligibility rules on admission and ongoing compliance.
• Regulating and providing advice to nominated advisers.
• Developing rules, policy and associated guidance in respect of all operated markets.
• Investigating rule breaches by nominated advisers and companies on those markets, as well as secondary market matters, and taking enforcement action where appropriate.
• Providing regulatory input into LSE plc projects, product innovations and market development initiatives.

This real-time operational role primarily focuses on providing advice and guidance on the application and interpretation of relevant rules and related enquiries, as well as providing regulatory challenge.

The role is primarily focused on assessing the eligibility of issuers seeking admission to ISM. However, there will be scope for the successful applicant to also develop equity capital markets expertise, given the wider remit of the team.

The role also includes contributing to project, thematic and supervisory work.

The successful candidate will have extensive knowledge of primary market regulation and its application to debt and derivative securities, gained from working in a regulatory environment such as a statutory primary market regulator, capital markets law firm or corporate finance department of an authorised firm.

The individual must be able to demonstrate:

• A strong track record of technical expertise in the disclosure requirements applicable to a debt prospectus.
• Experience working in a fast-paced environment with demanding deadlines.
• The ability to make sound judgements in a pressured, real-time environment.

Responsibilities will increase with experience, with a view to performing key ISM regulatory tasks such as:

• Assessing the eligibility of new applications of debt securities for admission to trading on the International Securities Market.
• Providing technical guidance on the application of the ISM rules to both internal and external stakeholders. This will involve discussing appropriate responses with ISM team members and making decisions on the application of the rules in a live market environment.
• Reviewing draft admission particulars submitted by ISM applicants for compliance with ISM Rulebook disclosure requirements.
• Supervising and training junior colleagues on the application of ISM disclosure requirements.
• Contributing to team discussions on ISM regulatory matters.

• Considering issuers’ obligations under the Admission & Disclosure Standards rules and undertaking thematic work relating to LSE plc’s Primary Markets activities.
• Monitoring relevant developments, including ESMA and FCA consultations.
• Undertaking project work as required, such as advising on the regulatory impact of product development within the Exchange and working with internal teams on regulatory strategy and public affairs matters.
• Dealing with primary market issues as they arise, for example in relation to new issuers or the appropriateness of new securities for admission to trading.
• Providing secretariat support for the LSE’s Admission Review Committee, which considers admissions to trading for markets other than AIM.
• Supporting the Sustainability Offerings Committee, which considers eligibility in relation to certain applications for the LSE’s sustainability offerings.
• Conducting research into new issues or market trends as they arise.

• Communication: Clear, precise oral and written communication skills, appropriately tailored to audiences ranging from team colleagues to senior LSE executives.
• Attention to detail: A strong focus on accuracy and thoroughness, ensuring sufficiently detailed information is recorded correctly.
• Maximising opportunities: Openness to adopting new processes, approaches and ways of working, while proactively seeking input from colleagues and stakeholders.
• Critical thinking and problem solving: Ability to analyse issues, identify appropriate solutions and utilise available resources and tools to investigate and resolve problems.
• Delivery: Ability to prioritise competing workloads, take ownership of routine tasks and carry out work without prompting or close supervision.
• High performance: Willingness to put in the effort required to complete activities on time and to the required quality. Proactive, demonstrates initiative and is able to work effectively under pressure.
• Collaboration: Ability to apply appropriate project management methodologies, keep colleagues updated, report progress to management and manage conflict appropriately.
• Flexibility: Openness to expanding knowledge across debt and other market offerings and becoming a cross-specialist.
• Primary market expertise: In-depth experience of primary market regulation and its application to debt and derivative securities, gained within a statutory primary market regulator, capital markets law firm or corporate finance department of an authorised firm.

• Good understanding of the application of the UK Prospectus Regulation Rules in relation to debt and derivative securities.
• Good MS Office skills, particularly Outlook, Word, Excel and PowerPoint.
• Confidence in dealing with external stakeholders.

Working hours: The ISM team within PMAR operates between 8:00am and 6:00pm.

• The opportunity to work in a dynamic and exciting environment at the heart of global capital markets.
• The opportunity to be part of a collegiate and passionate team with deep expertise in market regulation.
• Exposure to a wide range of internal and external stakeholders.
• A hybrid working environment.

Career Stage:

London Stock Exchange Group (LSEG) Information:

Join us and be part of a team that values innovation, quality, and continuous improvement. If you're ready to take your career to the next level and make a significant impact, we'd love to hear from you.

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone’s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs.

You will be part of a collaborative and creative culture where we encourage new ideas. We are committed to sustainability across our global business and we are proud to partner with our customers to help them meet their sustainability objectives. Our charity, the LSEG Foundation provides charitable grants to community groups that help people access economic opportunities and build a secure future with financial independence. Colleagues can get involved through fundraising and volunteering.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

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