DTR 1.4 Suspension of trading

2If trading of an issuer's financial instruments is suspended, the issuer, any persons discharging managerial responsibilities and any connected person must continue to comply with all applicable disclosure requirements.

Examples of when the FCA may require the suspension of trading of a financial instrument include:

1. (1)

   if an issuer fails to make an2 announcement as required by the Market Abuse Regulation2 within the applicable time-limits which the FCA considers could affect the interests of investors or affect the smooth operation of the market; or

2. (2)

   if there is or there may be a leak of inside information and the issuer is unwilling or unable to issue an appropriate2 announcement required by article 17 of the Market Abuse Regulation2 within a reasonable period of time.

The decision-making procedures to be followed by the FCA when it:

1. (1)

   requires the suspension of trading of a financial instrument; or

2. (2)

   refuses an application by an issuer to lift a suspension of trading of a financial instrument2;

are set out in DEPP1.