On 4 December 2015, the FCA published its eleventh quarterly consultation paper.
This paper proposes to make changes to different parts of the Handbook as follows:
- Implementation of the Transparency Directive Amending Directive: The FCA is consulting on amendments to its Enforcement Guide ("EG") to comply with the requirement that Member States provide competent authorities with the power to suspend voting rights for shareholders who do not comply with certain Transparency Directive requirements. The FCA is proposing to add rule EG 7.3A to reflect its ability to apply to court for a voting rights suspension order. In deciding whether to apply to the court for such an order, the FCA will consider the full circumstances of each case. The FCA is requesting comments on these proposals by 4 February 2016; and
- Impact on the Listing Rules of proposed Prospectus Rules amendments pursuant to EU regulatory technical standards: The FCA has noted that there are three Listing Rules dealing with listing particulars that cross-refer to rules in the Prospectus Rules which will be amended under CP15/28.
The consultation can be found at:
http://www.fca.org.uk/static/documents/consultation-papers/cp15-42.pdf
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