The UKLA Knowledge Base has been updated with the guidance set out in Primary Market Bulletin No. 6.
Date of consultation
July 2012 and February 2013
Summary of feedback received
The Knowledge Base is the UKLA’s repository of non-handbook technical commentary that has the status of formal FCA guidance. It consists of a series of short technical and procedural notes (Notes) published in PDF form and ordered by topic. The Notes relate to aspects of the Prospectus Rules (PR), Listing Rules (LR) and Disclosure and Transparency Rules (DTR).
In Primary Market Bulletin No. 2[1] (July 2012), we consulted on a procedural note on block listings. The feedback we received on this Note raised a variety of practical concerns on how to make an appropriate application for a block listing.
The Primary Market Bulletin No. 5[2] (February 2013), we presented 11 Notes for consultation. This consultation consisted of:
- amendments to two procedural notes;
- introduction of five new technical notes;
- amendments to three technical notes; and
- the deletion of one technical note
We received written feedback from 10 respondents.
We summarise the feedback received on these Notes and the course of action taken in respect of each Note in Primary Market Bulletin No. 6 (July 2013).
Response to feedback received
Having considered the feedback received, we have now updated the Knowledge Base as follows:
- Four new Notes added
- UKLA/PN/907.1 – Block listings
- UKLA/TN/506.1 – Periodic financial information and inside information
- UKLA/TN/710.1 – Sponsor services
- UKLA/TN/711.1 – Sponsor notification requirements
- Three existing Notes amended
- UKLA/PN/901.2 – Eligibility review process
- UKLA/PN/903.2 – Review and approval of documents
- UKLA/TN/621.2 – Risk factors
- One Note deleted
- UKLA/TN/702.1 – Sponsors: Regular review and annual confirmation
We are continuing our assessment of the feedback received in respect of the following 4 technical notes:
- UKLA/TN/310.1 - Indemnities, guarantees and similar arrangements
- UKLA/TN/605.2 - Supplementary prospectuses
- UKLA/TN/629.2 - Final terms
- UKLA/TN/631.1 - PD disclosure issues relating to non-equity securities