UK:
FSMA 2000 (Transparency) Regulations 2014 Laid Before Parliament
31 July 2014
Shearman & Sterling LLP
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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
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.
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