The Financial Conduct Authority (FCA) has published market guidance for issuers, on a range of topics, in Primary Market Bulletin 42 and for firms, on insider lists, in Market Watch 71. Primary Market Bulletin No. 42 Topics covered in Primary Market Bulletin 42 include: Unlawful disclosure of inside information – The FCA describes the situations and types of behaviour that crop up repeatedly in enquiries … Read more

The Financial Conduct Authority (FCA) has fined Sir Christopher Gent (SCG), the former non-executive Chair of ConvaTec Group Plc, £80,000 for unlawfully disclosing inside information in breach of Article 14(c) of the (then) EU Market Abuse Regulation. The fine follows a warning notice issued to SCG in September 2021 by the FCA proposing to take action against him – … Read more

The Financial Conduct Authority (FCA) has censured Carillion and provisionally fined three of the company’s former executive directors for breaches of the Listing Rules and UK Market Abuse Regulation (MAR). Carillion was a construction, project finance and support services business which went into liquidation in January 2018.  In July 2017, Carillion had announced a provision … Read more

A Financial Services and Markets Bill has been published as part of the government’s Future Regulatory Framework Review (FRF Review). The FRF Review was established to determine how the UK’s financial services regulatory framework should be amended post-Brexit. The Bill covers a wide range of topics including revoking EU retained laws relating to financial services and markets. For listed … Read more

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 January to June 2022, and which are of relevance to UK listed companies. Please click here to see the full briefing. Read more

The former chief financial officer of Redcentric Plc has been sentenced to five and a half years’ imprisonment and disqualified from being a director for ten years after being found guilty of making false and misleading statements to the market and false accounting. As we reported in our last corporate update, Redcentric, an AIM-listed IT … Read more

The Financial Conduct Authority (FCA) has published a statement reminding issuers of their disclosure obligations under the UK Market Abuse Regulation (UK MAR) in the context of the conflict in Ukraine. Also relevant in the context of Ukraine, a Bill is going through Parliament that will require overseas entities that own UK property to be … Read more

Following criminal proceedings brought by the Financial Conduct Authority (FCA), the former chief financial officer and the former finance director of Redcentric PLC have been convicted of: making false or misleading statements, contrary to section 89(1) of the Financial Services Act 2012; and false accounting, contrary to section 17(1)(a) of the Theft Act 1968. The … Read more