UKLR 24.2 Role of a sponsor: general

1A sponsor must, in relation to a sponsor service:

1. (1)

   provide assurance to the FCA, when required, that the applicable requirements of the issuer with a listing of equity shares or applying for admission of its equity shares under the listing rules and the Prospectus Rules have been met;

2. (2)

   provide to the FCA any explanation or confirmation in such form and within such time limit as the FCA reasonably requires for the purposes of ensuring that the applicable requirements of the listing rules, the Prospectus Rules, the disclosure requirements and the transparency rules are being complied with by an issuer with a listing of equity shares or applying for admission of its equity shares; and

3. (3)

   guide the issuer with a listing of equity shares or applying for admission of its equity shares in understanding and meeting its responsibilities under the listing rules, the Prospectus Rules, the disclosure requirements and the transparency rules.

1A sponsor must, for so long as it provides a sponsor service:

1. (1)

   take such reasonable steps as are sufficient to ensure that any communication or information it provides to the FCA in carrying out the sponsor service is, to the best of its knowledge and belief, accurate and complete in all material respects; and

2. (2)

   as soon as possible provide to the FCA any information of which it becomes aware that materially affects the accuracy or completeness of information it has previously provided.

1A sponsor must, in relation to a sponsor service, act with due care and skill.

1A sponsor must, in relation to a sponsor service, act with honesty and integrity.

1Where, in relation to a sponsor service, a sponsor gives any guidance or advice to a listed issuer or applicant on the application or interpretation of the listing rules, the disclosure requirements or the transparency rules, the sponsor must take reasonable steps to satisfy itself that the director or directors of the listed issuer or applicant understand their responsibilities and obligations under the listing rules, the disclosure requirements and the transparency rules.

1A sponsor must at all times (whether in relation to a sponsor service or otherwise):

1. (1)

   deal with the FCA in an open and cooperative way; and

2. (2)

   deal with all enquiries raised by the FCA promptly.

1If, in connection with the provision of a sponsor service, a sponsor becomes aware that it, or an issuer with a listing of equity shares or applying for admission of its equity shares, is failing or has failed to comply with its obligations under the listing rules, the disclosure requirements or the transparency rules, the sponsor must promptly notify the FCA.

1A sponsor must, for so long as it provides a sponsor service, take all reasonable steps to identify conflicts of interest that could adversely affect its ability to perform its functions properly under this chapter.

1A sponsor must, for so long as it provides a sponsor service, take all reasonable steps to put in place and maintain effective organisational and administrative arrangements that ensure conflicts of interest do not adversely affect its ability to perform its functions properly under this chapter.

1A sponsor must, for so long as it provides a sponsor service, be reasonably satisfied that its organisational and administrative arrangements will ensure that its ability to perform its functions properly under this chapter will not be adversely affected by a conflict of interest. If a sponsor is not so reasonably satisfied in relation to a sponsor service, it must decline or cease to provide such sponsor service.

1If a listed issuer or applicant appoints more than one sponsor to provide a sponsor service:

1. (1)

   the appointment does not relieve any of the appointed sponsors of their obligations under UKLR 24; and

2. (2)

   the sponsors are each responsible for complying with the obligations under UKLR 24.