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FCA consultation paper tracker—2019 [Archived]

FCA consultation paper tracker—2019 [Archived] This tracker sets out the consultation papers published by Financial Conduct Authority (FCA) in 2019, along with the publication of any subsequent rules and guidance. For details of FCA consultation papers from other years, see: FCA consultation paper trackers. For details of Prudential Regulation authority (PRA) and Financial Services Authority (FSA) consultation papers, see: • PRA consultation paper tracker [Archived] • FSA consultation paper tracker [Archived] Topic area Consultation Paper Description Publication date End of consultation period Policy Statement/Handbook Notice BrexitAuthorisation, approval and supervisionComplaints, compensation and claims managementRegulation of capital marketsPayment services and systems Regulation of personal pension and stakeholder products CP19/33: Quarterly Consultation No 26 The Financial Conduct Authority (FCA) has published Quarterly Consultation Paper No 26 (CP19/33), in which it consults on proposed miscellaneous amendments to the FCA Handbook:—clarification of the rules relating to Financial Services Compensation Scheme claims against appointed representatives and principals—changes to the Listing Rules’ requirements, which cross-refer to the Prospectus Regulation, for information to...

Listing requirements and continuing obligations—premium listing and standard listing—prior to 29 July 2024

Listing requirements and continuing obligations—premium listing and standard listing—prior to 29 July 2024 A significant restructuring of the UK listing regime came into effect on 29 July 2024 which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories.  The UK Listing Rules sourcebook came into force to implement the changes and the Listing Rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This checklist reflects the listing regime prior to 29 July 2024 and has been retained for reference purposes. This checklist compares the listing requirements and key continuing obligations that previously applied to a commercial company with a listing of equity securities on the premium and standard listing segments prior to 29 July 2024. Requirements for listing—prior to 29 July 2024...

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Legal and regulatory developments in Equity Capital Markets 2019

Legal and regulatory developments in Equity Capital Markets 2019 Background and approach This review looks at legal and regulatory developments in the sphere of equity capital markets (ECM) in 2019 and forms part of our annual trend report which aims to provide insight into the current dynamics of ECM activity in the UK. The other parts of our 2019 trend report comprise: • IPOs in 2019—Main Market and AIM • Secondary Offers in 2019—Main Market and AIM • Standard listings in 2019 • Risk factor disclosure in 2019 IPOs Brexit The UK entered an implementation period on 31 January 2020 during which existing EU laws continue to apply to the UK. The listing, prospectus and transparency regimes that apply in the UK (and are largely derived from EU law) continue to apply in the implementation period in the same way as before Brexit. However, UK representatives will no longer be permitted to participate in EU institutions and other bodies. The Financial Conduct Authority (FCA) is therefore no longer...

Legislation guide for transactional lawyers—UK Prospectus Regulation

Legislation guide for transactional lawyers—UK Prospectus Regulation This legislation guide lists UK legislative materials relevant to transactional work on debt capital markets prospectuses, including the UK Prospectus Regulation, level 2 measures and statutory instruments (SIs), together with relevant proposals, consultations and FCA Guidance. No. Document Points to note Further guidance Assimilated EU legislation 1 Assimilated Regulation (EU) 2017/1129 (UK Prospectus Regulation) The version of the UK Prospectus Regulation accessed by the link in the preceding column in this row incorporates the amendments made by the Prospectus (Amendment etc.) (EU Exit) Regulations 2019, SI 2019/1234 and the Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020, SI 2020/628. For an explanation of the onshoring of the EU Prospectus Regulation and level 2 measures under the European Union (Withdrawal) Act 2018 (EU(W)A 2018), and the amendments made by SIs, see Practice Note: Brexit—UK listing and prospectus regime [Archived].For detailed information on requirements of the UK Prospectus Regulation, including the areas in which it diverges from the EU Prospectus Regulation, see Practice...

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Do MiFIR pre- and post-trade transparency requirements apply to transactions in Euro Commercial Paper (ECP)?

Do MiFIR pre- and post-trade transparency requirements apply to transactions in Euro Commercial Paper (ECP)? IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for DCM lawyers? [Archived] The Markets in Financial Instruments Regulation (EU) (600/2014) (MiFIR) introduced pre- and post-trade transparency requirements for non-equity instruments traded on a regulated market, multi-lateral trading facility (MTF) or organised trading facility (OTF) (together, trading venues). Non-equity instruments include bonds, which are tradeable debt instruments. European Commercial Paper (ECP) would be considered bonds for this purpose, and trades in ECP would be subject to the pre-and post-trade...

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Financial Services weekly highlights—19 December 2024

This week's edition of Financial Services weekly highlights includes: FCA publishes five portfolio strategy letters; ESAs publish report on 2024 dry run exercise for DORA reporting; Cross-border payments: FSB issues recommendations on frictions in data flows and consistency in regulation between bank and non-bank PSPs; plus dates for your diary over the coming week.

Share Incentives weekly highlights—19 December 2024

This week's edition of Share Incentives weekly highlights includes (1) the announcement by ISS Governance of its new 2025 benchmark policy updates, (2) the FCA’s publication of its consultation paper on the proposed regulatory framework for the Private Intermittent Securities and Capital Exchange System (PISCES), (3) the Lexis+® UK Practical Guidance and Market Standards Trend Report reflecting on the voting patterns displayed during the 2024 AGM season, (4) HMRC’s publication of minutes of a subgroup meeting on changes to taxation of non-domiciled individuals, and (5) a new Q&A in respect of employee ownership trusts with a corporate trustee.