Date of consultation
March 2015
Summary of feedback received
The Knowledge Base is the UKLA’s repository of non-handbook commentary that has the status of formal FCA guidance. It consists of a series of short procedural and technical notes published in PDF form and ordered by topic. The notes relate to aspects of the Listing Rules, Prospectus Rules and Disclosure and Transparency Rules.
In Primary Market Bulletin No. 11[1] (March 2015), we proposed the following changes to the Knowledge Base:
The amendment of one existing procedural note
- Block listings[2] (UKLA/PN/907.2)
The addition of five new technical notes
- Investment management agreements and independence of the board[3] (UKLA/TN/405.1)
- Closed-ended investment funds with multiple share classes[4] (UKLA/TN/407.1)
- Eligibility of closed-ended investment funds[5] (UKLA/TN/408.1)
- Master-feeder structures[6] (UKLA/TN/409.1)
- Definition of ‘investment manager’[7] (UKLA/TN/410.1)
The amendment of three existing technical notes
- Related party transactions – Modified requirements for smaller related party transactions[8] (UKLA/TN/308.2)
- Related party transactions – Content of RIS announcement[9] (UKLA/TN/309.2)
- Sponsors: Conflicts of interest[10] (UKLA/TN/701.2)
The deletion of two existing technical notes
- Approval of circulars (UKLA/TN/206.1)
- Circulars not requiring approval (UKLA/TN/303.1)
Response to feedback received
We received feedback on our proposals relating to eight of those notes. We summarise the feedback received in Primary Market Bulletin No. 12[11].
Changes made to the guidance as a result of feedback received[12]