Clifford Chance | Listing Rules changes implemented on 1 October 2012 and further consultation launched

3 October 2012

Listing Rules changes implemented on 1 October 2012 and further consultation launched

Banks, Corporate advice, Corporate governance & directors' responsibilities, Equity capital markets, Equity capital markets & equity linked products, Financial institutions M&A, IPOs, Public takeovers & mergers, Securities regulation & compliance, United Kingdom
Mark Carroll, Adrian Cartwright, Iain Hunter, David Pudge, Patrick Sarch, Simon Thomas, Kath Roberts
Client Briefing

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Listing Rules changes implemented on 1 October 2012 and further consultation launched

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Actualités M&A/ Droit Boursier Juillet Août Septembre 2011

On Monday 1 October 2012 a significant number of changes took effect to the Listing Rules, along with more limited changes to the Prospectus Rules and the Disclosure and Transparency Rules. The changes were announced on Friday 28 September 2012, giving companies and their advisers very little time to get to grips with them. The FSA also published changes to the sponsor regime which will take effect at the end of this year.

Following the announcement of these changes, the FSA published a new consultation paper, CP12/25, on 2 October 2012, setting out its proposals for further amendments to the Listing Rules and, in particular, changes to the free float requirements for admission to listing and enhanced corporate governance requirements for companies with a controlling (30% or more) shareholder.

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