The FCA reveals its initial thinking on the regulatory framework for primary multilateral trading facilities and public offer platforms. By Chris Horton, James Inness, Anna Ngo, and Johannes Poon On 13 July 2023, the FCA published its fifth and sixth engagement papers to solicit discussion and feedback on the regulation of public offer platforms and … Continue Reading
Italian Securities Commission returns to ordinary reporting requirements for listed issuers. By Antonio Coletti, Isabella Porchia, Guido Bartolomei, and Marta Negro The Italian Securities Commission (CONSOB), by press release dated April 12, 2021, announced its decision to end the more stringent reporting requirements originally introduced on April 9, 2020, as a response to the impact … Continue Reading
More stringent reporting obligations regarding relevant shareholdings and investment objectives for Italian-listed issuers will continue until 13 April 2021. By Antonio Coletti, Guido Bartolomei, Marta Negro, and Isabella Porchia On 13 January 2021, the Italian Securities Commission (CONSOB) adopted Resolution 21672 (the Resolution), further extending for three months the more stringent reporting requirements for relevant … Continue Reading
For the retail and consumer product sector, the high yield market will likely remain an attractive source of capital. By Roberto L. Reyes Gaskin and Laurie Tomassian The retail and consumer products sector has been deeply impacted by the COVID-19 pandemic, both due to physical constraints on brick-and-mortar stores and supply chains, and acceleration of … Continue Reading
UK regulators announce a further package of measures to ease the burden on issuers. By Chris Horton, James Inness, Rob Moulton, Koushik Prasad, Connor Cahalane, and Charlotte Collins In response to the COVID-19 pandemic, UK regulators have published further measures affecting issuers, to try to preserve the flow of information to investors and support the … Continue Reading
The FRC has published a shorter and sharper Code which clarifies requirements for accountability, workforce engagement, and board diversity. By Claire Keast-Butler, James Inness, Richard Butterwick, and Anna Ngo The revised Code will apply to all companies with a premium listing on the London Stock Exchange for accounting periods beginning on or after 1 January … Continue Reading
The Financial Conduct Authority has published final rules creating a new category within its premium listing regime for companies controlled by a shareholder that is a sovereign country. By James Inness, Claire A. Keast-Butler, and Koushik K. Prasad From 1 July, 2018, an issuer with a sovereign state as its controlling shareholder will be eligible … Continue Reading
By Aaron Franklin The United States has the deepest, most liquid capital markets in the world, attracting issuers from across the globe. To sell to US investors, these issuers must comply with US securities laws, entailing a more rigorous diligence and disclosure process. Issuers must weigh the benefits of increased demand against the additional costs, … Continue Reading
By Isabella Porchia The Italian Securities Commission (CONSOB) has approved two handbooks, “Management of Inside Information” and “Investment Recommendations,” which offer guidelines under Market Abuse Regulation no. 596/2014 (MAR) and delegated acts. These publications have implications for a range of market participants, including companies with listed equity and debt securities on both Italian regulated markets … Continue Reading
