Russia’s invasion of Ukraine is having a significant impact on financial markets.
Both the events themselves, and the wide range of financial sanctions imposed in response on Russia, Russian individuals and Russian business by numerous jurisdictions worldwide will have multiple impacts on companies with securities admitted to UK markets.
During this period, issuers of securities admitted to UK trading venues are reminded of their disclosure obligations under the UK Market Abuse Regulation (MAR).
Companies in scope of MAR are required to fulfil their obligations to disclose inside information as soon as possible unless they have a valid reason under the regulation to delay disclosure. This includes continuing to assess carefully what information constitutes inside information, recognising that both the invasion and responses to it by governments globally may alter the nature of information that is material to a business’ assets, operations and prospects. Companies assessing the effect of financial sanctions in all relevant jurisdictions should where necessary take legal advice.
Companies should ensure the market is fully informed of any information or changes that are required to be disclosed under MAR.
Companies are also reminded that disclosure obligations continue to apply even when trading of securities has been suspended.
We will continue monitoring the market carefully to ensure these obligations are met in full.