Conflict in Ukraine – FCA reminder to issuers, our sanctions tracker and Bill on register of overseas entities that own UK property

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

FCA enforcement action – former CFO and finance director of AIM-listed company convicted for misstated results

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

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