FCA censures listed company for breach of Listing Rules and Transparency Rules

The FCA has issued a final notice and censured Aviva plc for breach of the Listing Rules and Transparency Rules in connection with the market announcement it made in relation to certain of its preference shares. The FCA found that Aviva contravened Listing Rule 1.3.3 and Transparency Rule 1A.3.2 which require an issuer to take … Read more

LPDT rules post-Brexit

The Financial Conduct Authority (FCA) has published a Handbook Notice on the changes to the Listing Rules, the Disclosure Guidance and Transparency Rules, and the Prospectus Regulation Rules (and other parts of the FCA Handbook) that will take effect when the transition period for the UK’s exit from the EU ends on 31 December 2020. The Notice … Read more

Company censured for breaches of the AIM Rules

The London Stock Exchange has censured and fined Yü Group plc £300,000 for failing to maintain effective controls to enable compliance with the AIM Rules and for announcing inaccurate information to the market. During the course of the first half of its financial year to 31 December 2018, the company made a number of forecasts … Read more

Latest FCA Primary Market Bulletin

The Financial Conduct Authority (FCA) has published the 30th edition of its Primary Market Bulletin (PMB). Topics covered in the PMB include: PDMR dealing notifications – It reminds persons discharging managerial responsibilities (PDMRs) of the importance of notifying dealings under the Market Abuse Regulation (MAR). This follows its first enforcement action for breach of the … Read more

Consolidated corporate update January to June 2020

This half-yearly update briefing summarises the major developments in UK corporate law and regulation which have occurred over the last six months and which will be of relevance to UK listed companies. Please click here to see the briefing.   Read more

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