Engagement paper published
13/07/2023
Closing date for responses
29/09/2023
29/09/2023
We are asking for your feedback on our initial thinking about future rules for multilateral trading facilities (MTFs) under the new public offers and admission to trading regime.
The regime will create a new type of MTF admission document known as an 'MTF admission prospectus', which will be subject to the same statutory liability and compensation scheme as regulated market prospectuses.
Under the new regime, we will have the power to make certain MTFs operating as primary markets (Primary MTFs) require the production of an MTF admission prospectus in specified circumstances.
This paper sets out our initial considerations on:
When designing our rules for Primary MTFs, we will explore how regulatory changes can promote broader investor participation and improve the quality of information that investors receive.
Where possible, we intend to preserve the existing regulatory model in which Primary MTF operators set their own requirements.
This engagement paper is part of a series of papers setting out our emerging policy thinking on how we may use our rule-making powers under the new regime.
We welcome written responses by email to the questions raised by the engagement paper by 29 September 2023.
Please email: [email protected]
We plan to also gather views through focus groups with key trade associations and other relevant market participants and stakeholders later this year.
Feedback on this paper, and the other papers in the series, is intended to create a dialogue which will inform further development of proposed rules which we will consult on formally during 2024.