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 six existing procedural note
- Eligibility process (UKLA/PN/901.3)
- Listing securities via final terms (UKLA/PN/902.2)
- Review and approval of documents (UKLA/PN/903.3)
- Public offer prospectus – drafting and approval (UKLA/PN/904.3)
- Passporting (UKLA/PN/905.2)
- Additional powers to supervise sponsors (UKLA/PN/910.2)
The addition of five new technical notes
- Shareholder votes in relation to hypothetical transactions (UKLA/TN/312.1)
- Reverse takeover and uncapped consideration (UKLA/TN/314.1)
- Removal from the Official List of listed equity shares of individual funds (individual sub-funds) of Open-ended Investment Companies (OEICs) (UKLA/TN/424.1)
- Open-ended investment companies and transfer restrictions (UKLA/TN/425.1)
- Sponsors: Record Keeping Requirements (UKLA/TN/717.1)
The re-consultation of one new technical note proposed in PMB No. 7
- Sponsors: Application of principle to deal with the FCA in an open and co-operative manner (UKLA/TN/713.1)
The amendment of three existing technical notes
- PD Advertisement regime (UKLA/TN/604.2)
- Final Terms (UKLA/TN/629.3)
- Additional powers to supervise and discipline sponsors (UKLA/TN/712.2)
We summarise our proposals in Primary Market Bulletin No. 13.
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 by email 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 10 May 2016.