New obligation to file details of share rights now in force

Listed companies must file a document disclosing the rights attached to their listed securities with the Financial Conduct Authority (FCA) under a new Listing Rule requirement which came into force on Monday 27 April 2020. Under new LR 9.2.6E premium listed companies must ensure that accurate information on the rights attached to their listed shares … Read more

COVID-19 – latest developments for corporate practitioners

In light of the widespread impact of COVID-19, various pieces of guidance have been published which companies should be aware of. FCA statement on share issuances The Financial Conduct Authority (FCA) has issued a Statement of Policy to assist companies looking to raise new share capital in response to the COVID-19 crisis. Smaller share issues … Read more

New National Storage Mechanism now live

The Financial Conduct Authority (FCA) has launched its National Storage Mechanism (NSM) portal and updated its website to reflect the transition from Morningstar to the FCA. A full user guide for the FCA’s NSM portal has also been published alongside Q&A guidance. The NSM is the FCA’s way of making regulated information accessible to all … Read more

COVID-19 – latest developments for corporate practitioners

In light of the widespread impact of COVID-19, various pieces of guidance have been published which companies should be aware of. Company meetings and other corporate actions Dividends – The London Stock Exchange (LSE) has published guidance in Market Notice N07/20 on payment dates under the 2020 Dividend Procedure Timetable. The Dividend Procedure Timetable says … Read more

Listing rule changes on display documents and rights attaching to shares

The Financial Conduct Authority (FCA) is making minor changes to the Listing Rules to amend the requirements for putting documents on display in connection with a class 1 circular and to introduce an obligation to disclose the rights attaching to shares. The rule changes, which were consulted on in December 2019, take effect on 27 … Read more

New National Storage Mechanism launch next week

The Financial Conduct Authority (FCA) has announced that the new National Storage Mechanism (NSM) will go live on 6 April (rather than 30 March as originally planned). The NSM is the FCA’s way of making regulated information accessible to all users, including documents published by listed issuers under the Listing Rules and Transparency Rules, such … Read more

FCA, PRA and FRC statements on corporate reporting and COVID-19

A series of actions and statements have been published by the FCA, PRA and FRC this morning in relation to corporate reporting and COVID-19. The FCA has published a statement which, in effect, gives listed companies an additional two months to finalise their annual report and accounts. Under DTR 4.1.3, companies have four months from their … Read more

COVID 19 – FCA Primary Market Bulletin, AGMs, accounts, Companies House and M&A

As the COVID-19 outbreak, and its impact, escalates rapidly, various pieces of guidance have been published for companies to consider. FCA Primary Market Bulletin The Financial Conduct Authority (FCA) has published a Primary Market Bulletin (PMB No. 27) which discusses a number of issues for listed companies in relation to COVID-19. Market Abuse Regulation – … Read more

Climate change – FCA consultation on climate change-related financial disclosures, ISS Guidelines and EU report on corporate reporting

The Financial Conduct Authority (FCA) has issued a consultation paper (CP20/3) on proposals to improve climate change related financial disclosures by listed issuers. Institutional Shareholder Services (ISS) has published Climate Proxy Voting Guidelines and the European Financial Reporting Advisory Group (EFRAG) has published a report on climate change reporting by EU companies. FCA consultation The … Read more