The FCA Knowledge Base has been updated with the guidance set out in Primary Market Bulletin No. 20.
Dates of consultation
November 2015, June 2016, August 2017
Summary of feedback received
The Knowledge Base is the FCA’s repository of non-handbook commentary that has the status of formal FCA guidance. It consists of a series of short procedural and technical notes published in PDF form and ordered by topic. The notes relate to aspects of the Listing Rules, Prospectus Rules and Disclosure Guidance and Transparency Rules.
We have made the following changes to the Knowledge Base, which we proposed in PMB No. 12, PMB No. 16, and PMB No. 18:
The addition of 5 new technical notes
- Quantified Financial Benefits Statements (FCA/TN/315.1)
- FRS 102 Cash Flow Statement Exemptions (FCA/TN/635.1)
- Sponsors’ duty regarding directors of listed companies (FCA/TN/718.1)
- Sponsors’ obligations on established procedures (FCA/TN/719.1)
- Sponsors’ obligations on no adverse impact (FCA/TN/720.1)
The amendment of 5 existing technical notes
- Share buy-backs with mix and match facilities (FCA/TN/202.2)
- Profit forecasts and estimates (FCA/TN/340.2)
- Scope and application of vote holder and issuer notification rules (FCA/TN/541.2)
- Exemptions from the requirement to prepare a prospectus (FCA/TN/602.2)
- Sponsors’ obligations on financial position and prospectus procedures (FCA/TN/708.3)
Response to feedback
We have received feedback on our proposals relating to these notes. We summarise the feedback received in Primary Market Bulletin No. 20.
Background guidance consultations
Primary Market Bulletin No. 12 consultation