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Dematerialisation timeline

  • 2016

    Before Brexit: UK preparing to deliver dematerialisation under Central Securities Depository Regulation (CSDR) by 2025. Project paused after the vote to leave the EU

  • 2022

    Digitisation taskforce launched: Chancellor launches the Digitisation Taskforce focused on digitising the UK’s share ownership structure

  • 2023

    Interim report: Digitisation Taskforce publishes their interim report in July 2023 outlining their initial proposals and seek feedback Report feedback: September 2023 saw Computershare provide its feedback to the taskforce, highlighting certain impacts on issuers (including those with international listing arrangements) and shareholders, advocating for a digitisation of key market interactions to improve market efficiency. Continued engagement: Continued to engage with key stakeholders and the Digitisation taskforce ahead of them publishing their final report

  • 2025

    Final report: The taskforce’s final report and recommendations are released, proposing a three-step delivery of dematerialisation Dematerialisation Market Action Taskforce (DEMAT): Government forms DEMAT to oversee the implementation of recommendations

  • 2026

    DEMAT Step 1 report: DEMAT plan to submit their first report focused on the implementation of Step 1 to Government

  • 2027

    Step 1 delivery:Digital registers to be introduced by the end of 2027 and certificates are to be withdrawn for in-scope securities DEMAT Step 2/3 report: DEMAT plan to submit their second report focused on the transition to Step 3 to Government

  • 2028 and beyond

    Market prepares: Market prepares for delivery of Step 3 following the end of the current UK Parliament

Dematerialisation progress

Since the publication of the Digitisation Taskforce’s interim report, we have continued to engage with all interested and impacted market shareholders including issuers, shareholder groups, custodians, registrars, Central Securities Depositories. We will continue to keep engaging productively as this initiative is a strategic priority for Computershare.

Key dates to look out for in 2026 and beyond

  • Check circle iconPublication of DEMAT’s first report focusing on the implementation of Step 1 by the end of 2027 – we anticipate this will occur in summer 2026, subject to government policy prioritisation
  • Check circle iconGuidance on shareholder awareness campaigns expected alongside the DEMAT report and formal policy announcement
  • Check circle iconPublication of the statutory instrument to deliver Step 1 – we anticipate this to be toward the end of 2026/early 2027

For more information, please view our Dematerialisation hub.