|
All companies are subject
to Company Law, but publicly listed companies have to abide by additional
regulations called the "Listing Rules". These were traditionally set by the
Stock Exchange itself but are now administered by the Financial Services
Authority (FSA) and effectively have the force of law.
The Listing Rules
dictate such matters as the contents of the prospectus on an IPO, and
on-going obligations such as the disclosure of price sensitive information,
and communications on new share offers, rights issues, and potential or
actual takeover bids for the company. The Combined Code on Corporate
Governance is also now the responsibility of the FSA but is more advisory.
Go to the FSA web site
at
www.fsa.gov.uk for more
information.
A note on our response
in June 2006 to the FSA consultation on the EU Transparency Directive and
the UK Listing Rules is present in:
FSA_Listing_Rules_June2006.
A note on our
submission to the proposed changes to the Listing Rules for Investment
Companies made in February 2007 is present in:
Listing_Rules_CP06_21 - a press
release on this subject is present at:
Press038_ListingRules
|
