UK:
UK Government And Regulators Jointly Publish Policy Statement On Implementation Of Transparency Directive Amending Directive
27 November 2015
Shearman & Sterling LLP
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On November 6, 2015, HM Treasury and the FCA jointly published a
policy statement on the implementation of the directive amending
the Transparency Directive, setting out final rules and summarizing
feedback received on their previous joint consultation on proposed
amendments to the FSMA 2000 and Disclosure Rules and Transparency
Rules (known as DTRs) for such implementation. The policy statement
sets out the responses to the previous consultation, including on
the requirement to disclose voting rights arising from holdings of
financial instruments that have a similar economic effect to
holding shares, as well as on the extension of deadlines for the
publication of half-yearly reports and the period of time for which
financial reports are publicly available. The policy statement also
includes the FCA's new DTRs Sourcebook (Transparency Directive
Amending Directive) Instrument 2015, implementing the changes as
set out in the policy statement. The new rules enter into force on
November 26, 2015.
The Policy Statement is available at: http://www.fca.org.uk/static/fca/article-type/policy%20statement/ps15-26.pdf.
The content of this article is intended to provide a general
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