Market Abuse Regulation – changes to UK MAR on PDMR dealings and insider lists

The deadline for disclosing dealings by persons discharging managerial responsibilities (PDMRs) and the requirements in relation to insider lists in the UK Market Abuse Regulation (UK MAR) will be amended by the Financial Services Act 2021. The Financial Services Act amends certain aspects of the legislative and regulatory framework for financial services following Brexit (see … Read more

Consolidated corporate update July to December 2020

We have published our half-yearly update briefing which summarises the major developments in UK corporate law and regulation that have occurred over the last six months, that is from July to December 2020, and which are of relevance to UK listed companies. The briefing is available here. Read more

Special edition of the Primary Market Bulletin on Brexit

The Financial Conduct Authority (FCA) has published a special Primary Market Bulletin No.32 on Brexit to remind issuers and investors of the changes to the listing regime that will take effect at the end of the transition period on 31 December 2020. Issuers will need to ensure that their internal policies and procedures are updated to reflect … Read more

Recent FCA publications

The Financial Conduct Authority (FCA) has published Primary Market Bulletin 31 (PMB 31), and through it publicised two recent reviews it has undertaken into delayed disclosure of inside information and corporate governance disclosures by listed issuers. Delayed disclosure of inside information The FCA has reviewed the delayed disclosure of inside information notifications (DDIINs) it has received. Under Article 17(4) of … Read more

Changes to PDMR dealing notification regime

The Financial Services Bill has been introduced to Parliament. It amends certain aspects of the legislative and regulatory framework for financial services following the end of the Brexit transition period, currently scheduled to be 31 December 2020. The Bill proposes changes to the EU Market Abuse Regulation (EU MAR) regime as it will apply in the … Read more

Criminal proceedings instituted against individuals for false and misleading statements

The Financial Conduct Authority (FCA) has announced that it has begun criminal proceedings against the former chief executive, the former chief financial officer and the former finance director of Redcentric Plc. The company issued unaudited interim results in November 2015 and audited final year results in June 2016 which it is alleged materially misstated its net debt … Read more

FCA enforcement action against CEO for disseminating misleading information

The FCA has publicly censured the former Chief Executive Officer of Worldspreads Group plc, a company which was traded on AIM, for market abuse. Worldspreads, a financial spread betting company, was admitted to trading on AIM in August 2007. The FCA found that the admission documents contained misleading information in relation to Worldspreads’ financial position … 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