IMA WELCOMES FSA CONSULTATION ON MODERNISING THE LISTING REGIME

The Investment Management Association today welcomes the publication of “CP04/16 – The Listings Review and implementation of the Prospectus Directive.”

The paper outlines revised proposals on the alignment of the Listing Rules with the implementation of the EU Prospectus Directive.

Julie Patterson, Director of Regulation, Operations and Taxation at the IMA commented:

“As users of the capital markets, our members have a keen interest in the Listing regime. The rules create obligations for disclosure and behaviour of companies that are more demanding than in many other markets, which has been beneficial to investor confidence and has contributed to the success of the UK as a major capital market for new issues. 

The FSA is to be congratulated on the manner in which extensive pre-consultation was undertaken with the industry before these revised proposals were published and on the move to a principles-based approach. We are considering the detail of the proposals and will, in due course, be consulting with our members before submitting a response to the Regulator.”

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For further information, please contact:

Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Out of hours contact:

Mona Patel, Head of Communications, IMA, 07834 089332

Notes to Editors:

The FSA statement on CP04/16 – The Listing Review and implementation of the Prospectus Directive can be found at http://www.fsa.gov.uk/pubs/cp/index-2004.html

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