On 16 May 2014, the Financial Services and Markets Act 2000 (Transparency) Regulations 2014 were laid before Parliament. The regulations will allow the FCA to remove from the Transparency Rules the requirement for share issuers to produce interim management statements or quarterly reports. The regulations implement Directive 2013/50/EU which makes various amendments to the Transparency Directive (the "Amending Directive"). The transposition deadline for implementing the Amending Directive into UK law is 26 November 2015, but the government has stated that it intends to remove the quarterly reporting requirements before the deadline.

The explanatory memorandum to the regulations is available at: http://www.legislation.gov.uk/uksi/2014/1261/pdfs/uksiem_20141261_en.pdf

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