We are consulting on the following changes that we are proposing to make to the Knowledge Base.
This guidance is likely to be of most relevance to issuers of transferable securities and their advisers, investors and other persons who interact with the UK Listing Authority.
Background to this consultation
The Knowledge Base is the UKLA’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 and Transparency Rules.
Summary of our proposals
We are consulting on the following changes that we are proposing to make to the Knowledge Base:
The amendment of one existing procedural note
- Block listings (UKLA/PN/907.2)
The addition of six new technical notes
- Investment management agreements and independence of the board (UKLA/TN/405.1)
- Infrastructure funds (UKLA/TN/406.1)
- Closed-ended investment funds with multiple share classes (UKLA/TN/407.1)
- Eligibility of closed-ended investment funds (UKLA/TN/408.1)
- Master-feeder structures (UKLA/TN/409.1)
- Definition of ‘investment manager’ (UKLA/TN/410.1)
The amendment of three existing technical notes
- Related party transactions – Modified requirements for smaller related party transactions (UKLA/TN/308.2)
- Related party transactions – Content of RIS announcement (UKLA/TN/309.2)
- Sponsors: Conflicts of interest (UKLA/TN/701.2)
The deletion of two existing technical notes
- Approval of circulars (UKLA/TN/206.1)
- Circulars not requiring approval (UKLA/TN/303.1)
We summarise our proposals in Primary Market Bulletin No. 11.
Cost benefit analysis
A cost benefit analysis is not included in this consultation.
We want to hear what you think
Please send your comments on our proposals to [email protected]. Alternatively, send them by post to:
Financial Conduct Authority
25 The North Colonnade
London E14 5HS
Please send us your comments by 11 May 2015.