PS15/7: Feedback and policy statement on CP14/21 in relation to joint sponsor proposals

In this Policy Statement we report on the main issues arising from our consultations on joint sponsors.

Why are we issuing this policy statement (PS)?

We are setting out our feedback, final rules and Technical Note in response to our consultation on joint sponsors set out in CP14/21 Feedback and Policy Statement on CP14/02, Consultation on joint sponsors and call for views on sponsor conflicts.

We are retaining the joint sponsor regime and, to reflect the feedback received to CP14/02 and the proposals in CP14/21, we are making minor changes to LR 8 where they affect joint sponsors. We are also publishing the Technical Note that was included in CP14/21 subject to a minor change in response to feedback received.

Policy statement 15/7 [PDF]

Who is this policy statement aimed at?

This will interest:

  • premium listed issuers or issuers considering a premium listing of their securities
  • firms and sponsors advising the issuers of premium listed securities
  • firms or persons investing in or dealing in premium listed securities
  • those responsible for submitting a prospectus to us for approval
  • consumers who deal and invest in premium listed securities either directly or indirectly through institutions

What are the next steps?

We are proceeding as proposed in CP14/21. We are amending LR 8.5.3R and LR 8.3.14R and introducing new guidance in LR 8.3.15G. We are publishing the Technical Note, subject to a minor change to reflect feedback. The Technical Note and the changes to LR 8 will take effect from 1 April 2015.

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