Introduction
The memorandum summarises the ongoing obligations for funds listed on the Global Securities Market (the "GEM") of Euronext Dublin ("Euronext" and previously The Irish Stock Exchange).
Full details of Euronext's ongoing suitability and reporting requirements are set out in Chapters 1, 4 and 7 of the "Global Exchange Market – Rules for Investment Funds" (the "Listing Rules"). This memorandum sets out a general summary only of the continuing obligations for your reference. Directors and service providers to listed funds should familiarize themselves with the full requirements of the Listing Rules.
Funds listed on Euronext are also subject to the requirements of Market Abuse Regulation (EU 596/2014) ("MAR") and Directive (2014/57/EU) on criminal sanctions for market abuse ("CSMAD"), which obligations are also summarized in our separate brochure on Market Abuse.
These obligations are imposed in order to maintain an orderly and transparent market in the
shares or units of listed funds, to ensure the ongoing suitability of the funds for listing, to protect shareholders' interests and to ensure that all relevant information is disseminated to the market without delay. This memorandum does not summarise the conditions for listing and suitability requirements which are set out fully in the Listing Rules
Any matter to be announced must, wherever possible, be notified to Euronext or a regulatory information service before 5.30 p.m. (Irish time) on the day the decision is made.
Please consult with any member of the Dillon Eustace listings team if you have any queries in relation to any aspect of these requirements and their application to the activities of a listed fund.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.