On 29 July 2016, the FCA published Handbook Notice No. 35 which contains its replies to feedback received on its quarterly consultation paper no. 2 (CP16/8) and the final instrument.
The instrument amends the definition of reverse takeovers to prevent issuers from artificially breaking up a transaction to avoid its classification as a reverse takeover. It also prescribes the reporting format for reports on payments to governments at DTR 4.3.10. It also amends the Prospectus Rule 1 to reflect ESMA's April 2016 guidance on prospectuses.
The instrument comes into force on 29 July 2016, and the new version of DTR 4.3A.10 comes into force for financial years commencing on or after 1 August 2016.
The Handbook Notice can be accessed here:
https://www.fca.org.uk/publication/handbook/fca-handbook-notice-35.pdf
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.
