Here. The proportionate disclosure regime came into force in the UK on 1 July 2012 with the implementation of the PD Amending Directive 2010/73. Excerpt from Lovells’ note:
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29 May 2013
How the UK’s listing regime went wrong
FT article traces problems to the LSE’s pursuit of overseas resources companies in the early 2000s, the “disjointed” Premium and Standard listing regimes and the different criteria used by the FTSE UK Index series,
19 February 2013
FSA fines former Main Market company £175,000 for failure to ensure compliance with the Model Code
This is the first penalty imposed on a company by the FSA for breaches of the Listing Rules and Listing Principles relating to compliance with the Model Code. From a Financial Services Authority press release on 14 February 2013:
“The Financial Services Authority (FSA) has fined Nestor Healthcare Group Limited (Nestor) £175,000 for failing to take adequate steps to ensure that its board members and senior executives complied with the share dealing provisions of the FSA’s Model Code.
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21 January 2013
Enhancing the effectiveness of the Listing Regime: Law Society response
The snappily-named Listing Rules Joint Working Party of the Company Law Committees of the Law Society of England and Wales and the City of London Law Society has published its response to the FSA’s October 2012 consultation on “Enhancing the effectiveness of the Listing Regime” (we discussed the consultation in this post).
10 December 2012
Primary Market Bulletin, Issue 4
The Financial Services Authority, in its guise as the UK Listing Authority, has published issue 4 of its Primary Market Bulletin.
This issue is entirely taken up with discussing how the UKLA has compiled the contents of its new “Knowledge Base“, which is “the UKLA’s repository of available technical guidance. The information is designed to assist both issuers and practitioners advising issuers in interpreting the Listing Rules, the Prospectus Rules and the Disclosure and Transparency Rules”. The notes in the Knowledge Base constitute formal FSA guidance.
2 October 2012
Listings: FSA consults on free float and controlling shareholder rule changes
In a new consultation paper published today, the Financial Services Authority – in its guise as the UK Listing Authority – has announced that it is consulting on:
- changes to the free float requirements for both the premium and standard listing segments on the Main Market; and
- introducing a new controlling shareholder concept.
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