The UK Listing Regime is a key element of the UK capital markets offering, both domestically and overseas, and one of the reasons for its success. Although we have reviewed the details of the regime thoroughly in recent years, the continuing evolution of global markets, and concerns by some market participants about the potential for confusion between the different Listing segments in the light of this evolution, mean that now is a good time to consider the structure of the regime as a whole, and in particular how it fits within the changing EU legislative structure.