Related provisions for RCB 2.1.1

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LR 20.5.1RRP
An issuer must submit to the FSA two copies of any document required by LR 20.5.2 R to LR 20.5.3 R at the same time as the document is issued.
LR 20.5.2RRP
An issuer must notify a RIS of all notices to holders of listedmiscellaneous securities no later than the date of despatch or publication.
LR 20.5.3RRP
An issuer must notify a RIS of any adjustment or modification it makes to a miscellaneous security as a result of any change to a security over which the listedmiscellaneous security carries a right to buy or subscribe.
LR 20.5.4RRP
An issuer must inform the FSA immediately if it becomes aware that any security over which the listedmiscellaneous security carries a right to buy or subscribe that is listed or traded outside the United Kingdom has been suspended.
LR 20.5.5GRP
LR 5.1.2 G (7) and LR 5.1.2 G (8) and LR 5.4.6 G may be of relevance to an issuer of miscellaneous securities.
RCB 2.2.1DRP
The issuer must apply for registration using the form at RCB 2 Annex 1D (application for registration).
RCB 2.2.2GRP
RCB 3.6.5 D sets out the methods the issuer may use to send the form to the FSA.
RCB 2.2.3DRP
Until the application has been determined by the FSA, the issuer must inform the FSA of any significant change to the information given in the application immediately it becomes aware of that change.
RCB 2.2.6DRP
The issuer must ensure that a senior manager of the issuer verifies the application by confirming on the FSA's form that the issuer has obtained the appropriate third party advice or reports as required by RCB 2.3.16 D and is satisfied that:(1) the information provided in the application is correct and complete; and (2) the arrangements relating to the covered bond or programme will comply with the requirements in the RCB Regulations and in RCB.
RCB 2.2.7GRP
The FSA expects the issuer to be able to justify any reliance it places on advice or reports which are not reasonably contemporaneous with the confirmation the senior manager gives in relation to compliance with the requirements of the RCB Regulations and RCB.
RCB 2.2.8DRP
The issuer must ensure that the senior manager, who verifies the application for registration under this section, gives their consent to the FSA displaying their confirmation of compliance with the relevant requirements on the FSA's website.
DTR 7.1.1RRP
1An issuer must have a body which is responsible for performing the functions set out in DTR 7.1.3 R. At least one member of that body must be independent and at least one member must have competence in accounting and/or auditing.
DTR 7.1.3RRP
An issuer must ensure that, as a minimum, the relevant body must:(1) monitor the financial reporting process;(2) monitor the effectiveness of the issuer’s internal control, internal audit where applicable, and risk management systems;(3) monitor the statutory audit of the annual and consolidated accounts;(4) review and monitor the independence of the statutory auditor, and in particular the provision of additional services to the issuer.
DTR 7.1.5RRP
The issuer must make a statement available to the public disclosing which body carries out the functions required by DTR 7.1.3 R and how it is composed. [Note: Article 41.5 (part) of the Audit Directive]
DTR 7.1.6GRP
An issuer may include the statement required by DTR 7.1.5 R in any statement it is required to make under DTR 7.2 (Corporate governance statements).
DTR 2.2.4GRP
(1) In determining the likely price significance of the information an issuer should assess whether the information in question would be likely to be used by a reasonable investor as part of the basis of his investment decisions and would therefore be likely to have a significant effect on the price of the issuer'sfinancial instruments (the reasonable investor test). [Note: Article 1(2) 2003/124/EC](2) In determining whether information would be likely to have a significant effect
DTR 2.2.5GRP
The reasonable investor test requires an issuer:(1) to take into account that the significance of the information in question will vary widely from issuer to issuer, depending on a variety of factors such as the issuer's size, recent developments and the market sentiment about the issuer and the sector in which it operates; and(2) to assume that a reasonable investor will make investment decisions relating to the relevant financial instrument to maximise his economic self in
DTR 2.2.6GRP
It is not possible to prescribe how the reasonable investor test will apply in all possible situations. Any assessment should take into consideration the anticipated impact of the information in light of the totality of the issuer's activities, the reliability of the source of the information and other market variables likely to affect the relevant financial instrument in the given circumstances. However, information which is likely to be considered relevant to a reasonable investor's
DTR 2.2.7GRP
An issuer and its advisers are best placed to make an initial assessment of whether particular information amounts to inside information. The decision as to whether a piece of information is inside information may be finely balanced and the issuer (with the help of its advisers) will need to exercise its judgement.Note:DTR 2.7 provides additional guidance on dealing with market rumour.
DTR 2.2.8GRP
The directors of the issuer should carefully and continuously monitor whether changes in the circumstances of the issuer are such that an announcement obligation has arisen under this chapter.
DTR 2.2.9GRP
(1) Subject to the limited ability to delay release of inside information to the public provided by DTR 2.5.1 R, an issuer is required to notify, via a RIS, all inside information in its possession as soon as possible.(2) If an issuer is faced with an unexpected and significant event, a short delay may be acceptable if it is necessary to clarify the situation. In such situations a holding announcement should be used where an issuer believes that there is a danger of inside information
DTR 2.2.10GRP
The FSA is aware that many issuers provide unpublished information to third parties such as analysts, employees, credit rating agencies, finance providers and major shareholders, often in response to queries from such parties. The fact that information is unpublished does not in itself make it inside information. However, unpublished information which amounts to inside information is only permitted to be disclosed in accordance with the disclosure rules and an issuer must ensure
DTR 1B.1.1GRP
1The purpose of the requirements in DTR 7.1 is to implement parts of the Audit Directive which require issuers that are required to appoint a statutory auditor to appoint an audit committee or have a body performing equivalent functions.
DTR 1B.1.2RRP
Except as set out in DTR 1B.1.3 R, DTR 7.1 applies to an issuer: (1) whose transferable securities are admitted to trading; and(2) which is required to appoint a statutory auditor.
DTR 1B.1.3RRP
DTR 7.1 does not apply to:(1) any issuer which is a subsidiary undertaking of a parent undertaking where the parent undertaking is subject to DTR 7.1, or to requirements implementing Article 41 of the Audit Directive in any other EEA State;[Note: Article 41.6(a) of the Audit Directive](2) any issuer the sole business of which is to act as the issuer of asset-backed securities provided the entity makes a statement available to the public setting out the reasons for which it considers
DTR 1B.1.5RRP
Except as set out in DTR 1B.1.6 R, DTR 7.2 applies to an issuer: (1) whose transferable securities are admitted to trading; and(2) which is a company within the meaning of section 1(1) of the Companies Act 2006.
DTR 1B.1.6RRP
The rules in DTR 7.2.2 R, 7.2.3 R and 7.2.7 R do not apply to an issuer which has not issued shares which are admitted to trading unless it has issued shares which are traded on an MTF.[Note: Article 46a(3) of the Fourth Company Law Directive]
LR 18.4.1RRP
An issuer of debt securities which the certificates represent must comply with the continuing obligations set out in LR 17.3 (Requirements with continuing application) in addition to the requirements of this section.1
LR 18.4.3ARRP
(1) 2An issuer within LR 18.4.3 R must publish its annual report and annual accounts as soon as possible after they have been approved. (2) An issuer within LR 18.4.3 R must approve and publish its annual report and accounts within six months of the end of the financial period to which they relate.(3) The annual report and accounts must:(a) have been prepared in accordance with the issuer's national law and, in all material respects, with national accounting standards or IAS;
LR 18.4.5RRP
(1) An issuer of securities represented by listedcertificates representing certain securities must notify a RIS of any change of depositary.(2) The notification required by paragraph (1) must be made as soon as possible, and in any event by 7.30 a.m. on the business day following the change of depositary, and contain the following information:(a) the name, registered office and principal administrative establishment if different from the registered office of the depositary;(b)
LR 18.4.6RRP
An issuer must comply with the requirements in LR 9.5.15 R (Temporary documents of title) and LR 9.5.16 R (Definitive documents of title) so far as relevant to certificates representing equity securities.
LR 18.4.7GRP
1An issuer, whose securities are admitted to trading on a regulated market, should consider its obligations under DTR 4 (Periodic financial reporting), DTR 5 (Vote holder and issuer notification rules) and DTR 6 (Access to information).
LR 18.4.9RRP
1An issuer that is not already required to comply with the transparency rules must comply with DTR 6.3 as if it were an issuer for the purposes of the transparency rules.
DTR 2.5.2GRP
(1) Delaying disclosure of inside information will not always mislead the public, although a developing situation should be monitored so that if circumstances change an immediate disclosure can be made.(2) Investors understand that some information must be kept confidential until developments are at a stage when an announcement can be made without prejudicing the legitimate interests of the issuer.
DTR 2.5.4GRP
(1) does not envisage that an issuer will: DTR 2.5.3 R (1) does not allow an issuer to delay public disclosure of the fact that it is in financial difficulty or of its worsening financial condition and is limited to the fact or substance of the negotiations to deal with such a situation. An issuer cannot delay disclosure of inside information on the basis that its position in subsequent negotiations to deal with the situation will be jeopardised by the disclosure of its financial
DTR 2.5.5GRP
An issuer should not be obliged to disclose impending developments that could be jeopardised by premature disclosure. Whether or not an issuer has a legitimate interest which would be prejudiced by the disclosure of certain inside information is an assessment which must be made by the issuer in the first instance. However, the FSA considers that, other than in relation to impending developments or matters described in DTR 2.5.3 R or DTR 2.5.5A R1, there are unlikely to be other
DTR 2.5.7GRP
(1) When an issuer is permitted to delay public disclosure of inside information in accordance with DTR 2.5.1 R, it may selectively disclose that information to persons owing it a duty of confidentiality.(2) Such selective disclosure may be made to another person if it is in the normal course of the exercise of his employment, profession or duties. However, selective disclosure cannot be made to any person simply because they owe the issuer a duty of confidentiality. For example,
DTR 2.5.8GRP
Selective disclosure to any or all of the persons referred to in DTR 2.5.7 G may not be justified in every circumstance where an issuer delays disclosure in accordance with DTR 2.5.1 R.
DTR 2.5.9GRP
An issuer should bear in mind that the wider the group of recipients of inside information the greater the likelihood of a leak which will trigger full public disclosure of the information via a RIS under DTR 2.6.2 R.
DTR 4.4.2RRP
The rules on annual financial reports in DTR 4.1 (including DTR 4.1.7R (4)1, half-yearly financial reports (DTR 4.2)and interim management statements (DTR 4.3 do not apply to an issuer that issues exclusively debt securitiesadmitted to trading the denomination per unit of which is at least 50,000 Euros (or an equivalent amount).[Note: article 8(1)(b) of the TD and article 45(1) of the Audit Directive]11
DTR 4.4.4RRP
The rules on half-yearly financial reports do not apply to an issuer already existing on 31 December 2003 which exclusively issue debt securities unconditionally and irrevocably guaranteed by the issuer'sHome Member State or by a regional or local authority of that state, on a regulated market.[Note: article 8(3) of the TD]
DTR 4.4.5RRP
The rules on half-yearly financial reports (DTR 4.2)and Interim management statements (DTR 4.3) do not apply to an issuer of transferable securities convertible into shares.
DTR 4.4.7RRP
The rules on half-yearly financial reports (DTR 4.2)and interim management statements (DTR 4.3) do not apply to an issuer of depository receipts.
DTR 4.4.8RRP
An issuer whose registered office is in a non-EEA State whose relevant laws are considered equivalent by the FSA is exempted from the rules on annual financial reports in DTR 4.1 (other than DTR 4.1.7R (4) which continues to apply),1 half-yearly financial reports (DTR 4.2) and interim management statements (DTR 4.3).1
DTR 4.4.9GRP
The FSA maintains a published list of non-EEA States which, for the purpose of article 23.1 of the TD, are judged to have laws which lay down requirements equivalent to those imposed upon issuers by this chapter. Such issuers remain subject to the following requirements of DTR 6:(1) the filing of information with the FSA;(2) the language provisions; and(3) the dissemination of information provisions.
LR 5.3.1RRP
A request by an issuer for the listing of its securities to be suspended or cancelled must be in writing and must include:(1) the issuer's name;(2) details of the securities to which it relates and the RIEs on which they are traded;(3) a clear explanation of the background and reasons for the request;(4) the date on which the issuer requests the suspension or cancellation to take effect;(5) for a suspension, the time the issuer wants the suspension to take effect;(6) if relevant,
LR 5.3.2RRP
The issuer must also include with a request to cancel the listing of its securities the following:(1) if the cancellation is to take effect after the completion of the compulsory acquisition procedures under Chapter 3 of Part 281 of the Companies Act 20061, a copy of the notice sent to dissenting shareholders of the offeree together with written confirmation that there have been no objections made to the court within the prescribed period;11(2) for a cancellation referred to in
LR 5.3.4GRP
A written request by an issuer to have the listing of its securities suspended should be made as soon as practicable. Suspension requests received for the opening of the market should allow sufficient time for the FSA to deal with the request before trading starts.
LR 5.3.5RRP
A written request by an issuer to have the listing of its securities cancelled must be made not less than 24 hours before the cancellation is expected to take effect.
LR 5.3.6GRP
Cancellations will only be specified to take effect when the market opens on a specified day. An issuer should therefore ensure that all accompanying information has been provided to the FSA well before the date on which the issuer wishes the cancellation to take effect and at the very latest by 3 p.m. on the business day before it is to take effect. If the information is received after 3:00 p.m. on the day before the issuer wishes the cancellation to take effect, it will normally
LR 5.3.7GRP
(1) If an issuer requests the FSA to suspend or cancel the listing of its securities, it may withdraw its request at any time before the suspension or cancellation takes effect. The withdrawal request should initially be made by telephone and then confirmed in writing as soon as possible, with an explanation of the reasons for the withdrawal.(2) Even if an issuer withdraws its request, the FSA may still suspend or cancel the listing of the securities if it considers it is necessary
PR 2.2.2RRP
(1) A prospectus composed of separate documents must divide the required information into a registration document, a securities note and a summary.(2) The registration document must contain the information relating to the issuer. The securities note must contain the information concerning the transferable securities to be offered or to be admitted to trading. [Note: article 5.3 PD]
PR 2.2.4RRP
An issuer, offeror or person requesting admission who already has a registration document approved by the FSA is required to draw up only the securities note and the summary when transferable securities are offered or a request is made for admission to trading. [Note: article 12.1 PD]
PR 2.2.6RRP
An issuer, offeror or person requesting admission may choose to file a registration document without approval. If it does so, the entire documentation, including updated information, is subject to approval. [Note: article 12.3 PD]
PR 2.2.7RRP
The prospectus can, at the choice of the issuer, offeror or person requesting admission, consist of a base prospectus containing all relevant information concerning the issuer and the transferable securities to be offered or to be admitted to trading if it relates to one of the following types of transferable securities:(1) non-equity transferable securities, including warrants in any form, issued under an offering programme; or(2) non-equity transferable securities issued in
PR 2.2.8RRP
The information given in the base prospectus must be supplemented, if necessary, in accordance with section 87G of the Act (supplementary prospectus), with updated information on the issuer and on the transferable securities to be offered or to be admitted to trading. [Note: article 5.4 PD]
PR 2.2.10EURP

Articles 25 and 26 of the PD Regulation provide for the format of prospectuses and base prospectuses:

Format of the prospectus

25.1

Where an issuer, an offeror or a person asking for the admission to trading on a regulated market chooses, according to [PR 2.2.1 R] to draw up a prospectus as a single document, the prospectus shall be composed of the following parts in the following order:

(1)

a clear and detailed table of contents;

(2)

the summary provided for in [section 87A(5) of the Act];

(3)

the risk factors linked to the issuer and the type of security covered by the issue;

(4)

the other information items included in the schedules and building blocks according to which the prospectus is drawn up.

2.

Where an issuer, an offeror or a person asking for the admission to trading on a regulated market chooses, according to [LR 3.1.1 R], to draw up a prospectus composed of separate documents, the securities note and the registration document shall be each composed of the following parts in the following order:

(1)

a clear and detailed table of contents;

(2)

as the case may be, the risk factors linked to the issuer and the type of security covered by the issue;

(3)

the other information items included in the schedules and building blocks according to which the prospectus is drawn up.

3.

In the cases mentioned in paragraphs 1 and 2, the issuer, the offeror or the person asking for admission to trading on a regulated market shall be free in defining the order in the presentation of the required information items included in the schedules and building blocks according to which the prospectus is drawn up.

4.

Where the order of the items does not coincide with the order of the information provided for in the schedules and building blocks according to which the prospectus is drawn up, the [FSA] may ask the issuer, the offeror or the person asking for the admission to trading on a regulated market to provide a cross reference list for the purpose of checking the prospectus before its approval. Such list shall identify the pages where each item can be found in the prospectus. [see LR 3.1.1R(3)]

5.

Where the summary of a prospectus must be supplemented according to [section 87G of the Act], the issuer, the offeror or the person asking for admission to trading on a regulated market shall decide on a case-by-case basis whether to integrate the new information in the original summary by producing a new summary, or to produce a supplement to the summary.

If the new information is integrated in the original summary, the issuer, the offeror or the person asking for admission to trading on a regulated market shall ensure that investors can easily identify the changes, in particular by way of footnotes.

Format of the base prospectus and its related final terms

26.1

Where an issuer, an offeror or a person asking for the admission to trading on a regulated market chooses, according to [PR 2.2.7 R] to draw up a base prospectus, the base prospectus shall be composed of the following parts in the following order:

(1)

a clear and detailed table of contents;

(2)

the summary provided for in [section 87A of the Act];

(3)

the risk factors linked to the issuer and the type of security or securities covered by the issue(s);

(4)

the other information items included in the schedules and building blocks according to which the prospectus is drawn up.

2.

Notwithstanding paragraph 1, the issuer, the offeror or the person asking for admission to trading on a regulated market shall be free in defining the order in the presentation of the required information items included in the schedules and building blocks according to which the prospectus is drawn up. The information on the different securities contained in the base prospectus shall be clearly segregated.

3.

Where the order of the items does not coincide with the order of the information provided for by the schedules and building blocks according to which the prospectus is drawn up, the [FSA] may ask the issuer, the offeror or the person asking for admission to trading on a regulated market to provide a cross reference list for the purpose of checking the prospectus before its approval. Such list should identify the pages where each item can be found in the prospectus. [see LR 3.1.1R(3)]

4.

In case the issuer, the offeror or the person asking for admission to trading on a regulated market has previously filed a registration document for a particular type of security and, at a later stage, chooses to draw up base prospectus in conformity with the conditions provided for in [PR 2.2.7 R], the base prospectus shall contain:

(1)

the information contained in the previously or simultaneously filed and approved registration document which shall be incorporated by reference, following the conditions provided for in Article 28 of this Regulation;

(2)

the information which would otherwise be contained in the relevant securities note less the final terms where the final terms are not included in the base prospectus.

5.

The final terms attached to a base prospectus shall be presented in the form of a separate document containing only the final terms or by inclusion of the final terms into the base prospectus.

In the case that the final terms are included in a separate document containing only the final terms, they may replicate some information which has been included in the approved base prospectus according to the relevant securities note schedule that has been used for drawing up the base prospectus. In this case the final terms have to be presented in such a way that they can be easily identified as such.

A clear and prominent statement shall be inserted in the final terms indicating that the full information on the issuer and on the offer is only available on the basis of the combination of base prospectus and final terms and where the base prospectus is available.

6.

Where a base prospectus relates to different securities, the issuer, the offeror or the person asking for admission to trading on a regulated market shall include a single summary in the base prospectus for all securities. The information on the different securities contained in the summary, however, shall be clearly segregated.

7.

Where the summary of a base prospectus must be supplemented according to [section 87G of the Act], the issuer, the offeror or the person asking for admission to trading on a regulated market shall decide on a case-by-case basis whether to integrate the new information in the original summary by producing a new summary, or by producing a supplement to the summary.

If the new information is integrated in the original summary of the base prospectus by producing a new summary, the issuer, the offeror or the person asking for admission to trading on a regulated market shall ensure that investors can easily identify the changes, in particular by way of footnotes.

8.

Issuers, offerors or persons asking for admission to trading on a regulated market may compile in one single document two or more different base prospectuses.
DTR 4.2.1RRP
Subject to the exemptions set out in DTR 4.4 (Exemptions) this section applies to an issuer:(1) whose shares or debt securities are admitted to trading; and(2) whose Home State is the United Kingdom.
DTR 4.2.2RRP
(1) An issuer must make public a half-yearly financial report covering the first six months of the financial year.(2) The half-yearly financial report must be made public as soon as possible, but no later than two months, after the end of the period to which the report relates.(3) An issuer must ensure that the half-yearly financial report remains available to the public for at least five years.[Note: article 5(1) of the TD]
DTR 4.2.4RRP
(1) If an issuer is required to prepare consolidated accounts, the condensed set of financial statements must be prepared in accordance with IAS 34.[Note: article 5(3) of the TD](2) If an issuer is not required to prepare consolidated accounts, the condensed set of financial statements must contain, as a minimum the following:(a) a condensed balance sheet;(b) a condensed profit and loss account; and(c) explanatory notes on these accounts.[Note: article 5(3) of the TD]
DTR 4.2.5RRP
(1) This rule applies to an issuer that is not required to prepare consolidated accounts.(2) In preparing the condensed balance sheet and the condensed profit and loss account an issuer must follow the same principles for recognising and measuring as when preparing annual financial reports.[Note: article 5(3) of the TD](3) The balance sheet and the profit and loss account must show each of the headings and subtotals included in the most recent annual financial statements of the
DTR 4.2.8RRP
(1) In addition to the requirement set out in DTR 4.2.7 R, an issuer of shares must disclose in the interim management report the following information, as a minimum:(a) related parties transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or the performance of the enterprise during that period; and(b) any changes in the related parties transactions described in the last annual report that
DTR 4.2.9RRP
(1) If the half-yearly financial report has been audited or reviewed by auditors pursuant to the Auditing Practices Board guidance on Review of Interim Financial Information, the audit report or review report must be reproduced in full.(2) If the half-yearly financial report has not been audited or reviewed by auditors pursuant to the Auditing Practices Board guidance on Review of Interim Financial Information, an issuer must make a statement to this effect in its report.[Note:
DTR 4.2.10RRP
(1) Responsibility statements must be made by the persons responsible within the issuer. [Note: article 5(2)(c) of the TD](2) The name and function of any person who makes a responsibility statement must be clearly indicated in the responsibility statement.[Note: article 5(2)(c) of the TD](3) For each person making a responsibility statement, the statement must confirm that to the best of his or her knowledge:(a) the condensed set of financial statements, which has been prepared
DTR 4.2.11RRP
The issuer is responsible for all information drawn up and made public in accordance with this section.
LR 4.2.1GRP
Section 80 (1) of the Act (general duty of disclosure in listing particulars) requires listing particulars submitted to the FSA to contain all such information as investors and their professional advisers would reasonably require, and reasonably expect to find there, for the purpose of making an informed assessment of:(1) the assets and liabilities, financial position, profits and losses, and prospects of the issuer of the securities; and(2) the rights attaching to the securi
LR 4.2.4RRP
The following minimum information from the PD Regulation must be included in listing particulars:(1) for an issue of bonds including bonds convertible into the issuer's shares or exchangeable into a third party issuer'sshares or derivative securities, irrespective of the denomination of the issue, the minimum information required by the schedules applicable to debt and derivative securities with a denomination per unit of at least 50,000 euros;(2) the additional information required by
LR 4.2.5GRP
For all other issues the FSA would expect issuers to follow the most appropriate schedules and building blocks in the PD Regulation to determine the minimum information to be included in listing particulars.
LR 4.2.6RRP
An issuer may incorporate information by reference in the listing particulars as if PR 2.4 and the PD Regulation applied to the listing particulars.
LR 4.2.7RRP
An issuer may include equivalent information in listing particulars as if PR 2.5.1 R applied to the listing particulars.
LR 4.2.10RRP
A request to the FSA to authorise the omission of specific information in a particular case must:(1) be in writing from the issuer;(2) identify the specific information concerned and the specific reasons for the omission; and(3) state why in the issuer's opinion one or more of the grounds in section 82 of the Act applies.
LR 4.2.13RRP
(1) In the case of listing particulars for specialist securities:(a) the issuer must state in the listing particulars that it accepts responsibility for the listing particulars;(b) the directors may state in the listing particulars that they accept responsibility for the listing particulars; and(c) other persons may state in the listing particulars that they accept responsibility for all or part of the listing particulars and in that case the statement by the issuer or directors
PR 5.5.2RRP
The rules in this section only apply in respect of a prospectus if the United Kingdom is the Home State for the issuer in relation to the transferable securities to which the prospectus relates.
PR 5.5.3RRP
(1) This rule applies to a prospectus relating to:(a) equity shares;(b) warrants or options to subscribe for equity shares, that are issued by the issuer of the equity shares; and(c) other transferable securities that have similar characteristics to transferable securities referred to in paragraphs (a) or (b).(2) Each of the following persons are responsible for the prospectus:(a) the issuer of the transferable securities;(b) if the issuer is a body corporate:(i) each person who
PR 5.5.4RRP
(1) This rule applies to a prospectus relating to transferable securities other than those to which PR 5.5.3 R applies.(2) Each of the following persons are responsible for the prospectus:(a) the issuer of the transferable securities;(b) each person who accepts, and is stated in the prospectus as accepting, responsibility for the prospectus;(c) in relation to an offer, the offeror of the transferable securities, if this is not the issuer;(d) in relation to a request for an admission
PR 5.5.5RRP
A person is not responsible for a prospectus under PR 5.5.3R (2)(a) or (b) or PR 5.5.4 R (2)(a) if the issuer has not made or authorised the offer or the request for admission to trading in relation to which the prospectus was published.
PR 5.5.7RRP
A person is not responsible for a prospectus under PR 5.5.3 R (2)(d) or PR 5.5.4 R (2)(c) if:(1) the issuer is responsible for the prospectus in accordance with the rules in this section;(2) the prospectus was drawn up primarily by the issuer, or by one or more persons acting on behalf of the issuer; and(3) the offeror is making the offer in association with the issuer.
LR 19.5.1RRP
An issuer must submit to the FSA two copies of any document required by LR 19.5.2 R to LR 19.5.10 R at the same time as the document is issued.
LR 19.5.7RRP
An issuer must notify a RIS of all notices to holders of listedsecuritised derivatives no later than the date of despatch or publication.
LR 19.5.9RRP
An issuer must notify a RIS of any adjustment or modification it makes to the securitised derivative as a result of any change in or to the underlying instrument including details of the underlying event that necessitated the adjustment or modification.
LR 19.5.10RRP
An issuer must inform the FSA immediately if it becomes aware that an underlying instrument that is listed or traded outside the United Kingdom has been suspended.Note:LR 5.1.2G (7) and (8) and LR 5.4.6 G are of relevance to an issuer of securitised derivatives.
LR 1.3.1RRP
An issuer must provide to the FSA as soon as possible:(1) any information and explanations that the FSA may reasonably require to decide whether to grant an application for admission;(2) any information that the FSA considers appropriate to protect investors or ensure the smooth operation of the market; and [Note: Article 16.1 CARD](3) any other information or explanation that the FSA may reasonably require to verify whether listing rules are being and have been complied with
LR 1.3.2RRP
(1) The FSA may, at any time, require an issuer to publish such information in such form and within such time limits as it considers appropriate to protect investors or to ensure the smooth operation of the market. [Note: Article 16.2 CARD](2) If an issuer fails to comply with a requirement under paragraph (1) the FSA may itself publish the information (after giving the issuer an opportunity to make representations as to why it should not be published). [Note: Article 16.2 CA
LR 1.3.3RRP
An issuer must take reasonable care to ensure that any information it notifies to a RIS or makes available through the FSA is not misleading, false or deceptive and does not omit anything likely to affect the import of the information.
LR 1.3.4RRP
If an issuer is required to notify information to a RIS at a time when a RIS is not open for business it must distribute the information as soon as possible to:(1) not less than two national newspapers in the United Kingdom;(2) two newswire services operating in the United Kingdom; and(3) a RIS for release as soon as it opens.
DTR 1A.3.1RRP
(1) The FSA may, at any time, require an issuer to publish such information in such form and within such time limits as it considers appropriate to protect investors or to ensure the smooth operation of the market.(2) If an issuer fails to comply with a requirement under paragraph (1) the FSA may itself publish the information (after giving the issuer an opportunity to make representations as to why it should not be published).
DTR 1A.3.2RRP
An issuer must take all reasonable care to ensure that any information it notifies to a RIS is not misleading, false or deceptive and does not omit anything likely to affect the import of the information.
DTR 1A.3.3RRP
If an issuer is required to notify information to a RIS at a time when a RIS is not open for business, it must distribute the information as soon as possible to:(1) not less than two national newspapers in the United Kingdom;(2) two newswire services operating in the United Kingdom; and(3) a RIS for release as soon as it opens.
LR 15.3.1GRP
An applicant is required to comply with LR 3 (Listing applications).
LR 15.3.2GRP
An applicant that is seeking admission of its equity shares1is required to retain a sponsor in accordance with LR 8 (Sponsors).
LR 15.3.3RRP
In addition to the circumstances set out in LR 8.2.1 R when a sponsor must be appointed, an applicant must appoint a sponsor on each occasion that it makes an application for admission of equity shares 1which requires the production of listing particulars.
LR 15.3.4RRP
An application for the listing of securities of a multi-class fund or umbrella fund must provide details of the various classes or designations of securities intended to be issued by the applicant.
LR 16.3.1GRP
An applicant for admission is required to comply with LR 3 (Listing applications).
LR 16.3.2GRP
The FSA will admit to listing such number of securities as the applicant may request for the purpose of future issues. At the time of issue the securities will be designated to the relevant class.
LR 16.3.3GRP
An applicant that is seeking admission of its equity shares 2must retain a sponsor in accordance with LR 8 (Sponsors).
LR 16.3.6RRP
An applicant which is a multi-class or umbrella fund which seeks to create a new class of security without increasing its share capital for which listing has previously been granted, must provide the FSA with the details of the new class and no further application for listing is required.
DTR 5.11.1RRP
An issuer whose registered office is in a non-EEA State will be treated as meeting equivalent requirements to those set out in DTR 5.8.12 R (2) (issuer to make public notifications of major shareholdings by close of third day following receipt) provided that the period of time within which the notification of the major holdings is to be effected to the issuer and is to be made public by the issuer is in total equal to or shorter than seven trading days.[Note: article 19 of the
DTR 5.11.2RRP
An issuer whose registered office is in a non-EEA State will be treated as meeting equivalent requirements in respect of treasury shares to those set out in DTR 5.5.1 R provided that:(1) if the issuer is only allowed to hold up a maximum of 5% of its own shares to which voting rights are attached, a notification requirement is triggered under the law of the third country whenever this the maximum threshold of 5% of the voting rights is reached or crossed;(2) if the issuer is allowed
DTR 5.11.3RRP
An issuer whose registered office is in a non-EEA State will be treated as meeting equivalent requirements to those set out in DTR 5.6.1 R (Disclosure by issuers of total voting rights) provided that the issuer is required under the law of the non-EEA State to disclose to the public the total number of voting rights and capital within 30 calendar days after an increase or decrease of such total number has occurred.[Note: article 21 of the TD implementing Directive]
DTR 5.11.4RRP
An issuer whose registered office is in a non-EEA State whose relevant laws are considered equivalent by the FSA is exempted from the corresponding obligation in this chapter.
DTR 5.11.5GRP
The FSA maintains a published list of non-EEA States which, for the purpose of article 23.1 of the TD, are judged to have laws which lay down requirements equivalent to those imposed upon issuers by this chapter. Such issuers remain subject to the following requirements of DTR 6:(1) the filing of information with the FSA;(2) the language provisions; and(3) the dissemination of information provisions.
REC 4.2D.2GRP
The procedure the FSA will follow if it exercises its power to require a UK RIE to suspend or remove a financial instrument3 from trading is set out in sections 313B to 313BE of the Act.3 The FSA's internal arrangements provide for decisions to exercise this power to be taken at an appropriately senior level. If the FSA exercises this power, the UK RIE concerned and the issuer (if any) of the relevant financial instrument may refer the matter to the Tribunal(see EG 2.39)2.233