The UK Financial Conduct Authority (FCA) has published Primary Market Bulletin 57 (PMB 57), setting out updates to its technical notes to reflect the implementation of the new UK Listing Regime (UKLR). Specifically, the FCA finalises five technical notes following its April consultation in PMB 55 and reconsults on TN 710 ('Sponsor Services: Principles for Sponsors'), previously consulted on in PMB 48 and PMB 53, seeking to clarify the scope of 'preparatory work' and sponsor obligations under UKLR 4.
Additionally, the FCA consults on a new draft technical note (TN 638.1) on further drafting changes to new guidance regarding complex financial histories and significant financial commitment rules in prospectus disclosures (GC25/2) and sets out changes for the National Storage Mechanism, further to finalised rules within final policy statement PS24/19, which are effective on 3 November. The FCA also confirms that updates to its Delayed Disclosure of Inside Information and Persons Discharging Managerial Responsibilities notification forms, under the UK Market Abuse Regulation, are expected to be published later this year. The deadline for comments on the proposed technical notes being consulted on is 12 September.
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