On 4 December 2015, the London Stock Exchange ("LSE") published Notice N19/15 to consult on proposed amendments to the Admission and Disclosure Standards and the High Growth Segment Rulebook. The notice makes clear that that the majority of the proposed changes relate to the structure of the Standards and are of an "administrative or clarificatory nature."

The Standards are being:

  • Restructured so that they may serve as a consolidated resource for issuers and advisors (they will include schedules which contain further detail on the admission process and criteria for each of the relevant markets and segments);
  • Revised so as to include an exemption for life science companies; and
  • Amended so that the Executive Panel has increased powers to impose a fine of up to a maximum of £100,000 per breach of compliance procedures.

The consultation closed on 8 January 2016.

The notice can be found at:

http://www.londonstockexchange.com/traders-and-brokers/rules-regulations/change-and-updates/stock-exchange-notices/2015/n19.pdf

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