The FCA is consulting on extending its rules to standard listed issuers.
On 22 June 2021, the FCA published a Consultation Paper (CP21/18) on extending the application of the existing climate-related disclosure...more
6/28/2021
/ Asset Management ,
Capital Markets ,
Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Issuers ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
G7 ,
IFRS ,
Listing Rules ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
As interest in European SPACs heats up amid an increasingly receptive regulatory environment, dealmakers must navigate market differences.
While US special purpose acquisition company (SPAC) IPOs and related M&A activity...more
Proposed changes to the UK Listing Rules would allow certain SPACs to avoid a listing suspension.
Key Points:
..The FCA is proposing to amend its rules so that SPACs meeting certain conditions and disclosure...more
The recommended reforms aim to make the UK’s listing regime more competitive while maintaining high standards of corporate governance, shareholder rights, and transparency. A new independent review (the Review), led by Lord...more
ESMA advises the European Commission to consider some, but not all, of ESMA’s original proposals — and gives guidance on pre-hedging and market soundings along the way.
Key Points:
..Pre-hedging / front running: ESMA...more
The FCA publicly censured the IT service provider for publishing false information about its net debt and holdings of cash and cash equivalents.
On 26 June 2020, the FCA issued a final notice to Redcentric PLC...more
New guidance for issuers and market participants on capital raising events and alternative working arrangements, and additional time allowed for filing half-yearly financial reports.
On 27 May 2020, the FCA published its...more
BEIS and FRC released further updates on how companies can hold meetings during the COVID-19 pandemic.
On 14 May 2020, the Department for Business, Energy & Industrial Strategy (BEIS) and the Financial Reporting Council...more
The package combines temporary policy interventions and existing options to help companies raise new share capital during the COVID-19 crisis.
On 8 April 2020, the FCA published a Statement of Policy and related technical...more
The FCA asks issuers to delay publishing their preliminary financial results due to COVID-19.
Key Points:
..The FCA is asking issuers to delay the publication of their preliminary financial accounts by at least two...more
UK regulators announce a further package of measures to ease the burden on issuers.
In response to the COVID-19 pandemic, UK regulators have published further measures affecting issuers, to try to preserve the flow of...more
The FCA is moving towards formalising issuers’ compliance with the TCFD recommendations.
Key Points:
..The FCA is proposing that premium listed commercial companies will need to disclose how they have implemented the...more
The regulatory regime and disclosure requirements for listed companies in the UK will continue to evolve in 2020. Issuers and their advisers should be aware of the key legal developments that will occur during this year,...more
1/24/2020
/ Climate Change ,
Commission Delegated Regulation ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Environmental Social & Governance (ESG) ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Prospectus Regulation (PR3) ,
Publicly-Traded Companies ,
Regulatory Standards ,
Reporting Requirements ,
Shareholder Rights ,
Shareholders ,
Small and Medium-Sized Enterprises (SMEs) ,
Transparency ,
UK
New length restrictions will require issuers to focus on key information for investors.
Under the Prospectus Regulation, which comes into force on 21 July 2019 (See EU Prospectus Regulation: New Format and Content...more
Cornerstone investments can assist a firm’s overall exit objective, particularly when there are bidders for a portfolio company but no outright buyer.
Cornerstone investments, which involve taking a stake in an...more
The FCA found that three asset managers breached competition law by sharing information in relation to securities offerings.
Key Points:
..The decision gives market participants some helpful indications as to what kinds...more
The full regulation will come into force in July, imposing new requirements for prospectuses -
The new EU Prospectus Regulation will take full effect on 21 July 2019. Issuers and other parties to capital markets...more
The revised Code clarifies requirements for accountability, workforce engagement, and board diversity.
Key Points:
..The revised Code focuses on the application of flexible Principles on a “comply or explain”...more
The FCA has created a new category for sovereign controlled companies who will be eligible for premium listing if they comply with the requirements applicable to premium listed issuers, with some key exceptions.
Further to...more
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.
From 1 July, 2018, an issuer with a...more
Latham & Watkins recently advised the largest global music streaming subscription service in the world, Spotify, on its successful New York Stock Exchange (NYSE) listing using a novel direct listing process.
Spotify’s...more
Companies should conduct thorough due diligence in light of closer scrutiny from stakeholders and governmental and non-governmental bodies.
Companies are facing increasing pressure to report on environmental, social, and...more
3/13/2018
/ BEIS ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Policies ,
Financial Reporting ,
Reporting Requirements ,
Shareholder Activism ,
Shareholders ,
Stakeholder Engagement ,
UK
Special purpose acquisition companies, or SPACs, are companies that are incorporated for the purpose of making one or more strategic acquisitions. SPACs are also referred to as “blank check” companies or “cash shells”, which...more
Following our 7 November 2017 blog “Europe as a Hub for Initial Coin Offerings”, the European Securities and Markets Authority (ESMA) has published two statements on Initial Coin Offerings (ICOs). The statements underline...more
The new rules are designed to improve the availability of information during the UK IPO process.
Key Points:
..New rules will be introduced from 1 July 2018 to change the timing and sequencing of the availability of...more