Welcome to the latest in our series of regular alerts containing a round-up of news from our Capital Markets Practice.
The topics covered in this issue are:
- FCA Listing Rules and Disclosure and Transparency Rules Consultation. The FSA has set out its proposals to amend the Listing Rules and Disclosure and Transparency Rules to take account of, among other things, implementation of the revised UK Corporate Governance Code in September 2014.
- TheCityUK Submits Its Response to the European Listings Review. Following the Chancellor of the Exchequer's commissioning of a review into the European Listings Regime in March, TheCityUK was asked to adopt a lead role in delivering a comprehensive, fair and balanced response to the European Commission's consultation on the Prospectus Directive.
- ESMA's Call for Evidence on the Impact of the Best Practice Principles. The European Security and Markets Authority is inviting comments on the Impact of the Best Practice Principles for Shareholder Voting Research and Analysis.
- Market Abuse: Publication of Fair and Effective Markets Review. The Bank of England review sets out recommendations aimed at raising standards, promoting quality and mitigating risk in the fixed income, currency and commodities markets. However, it also recommends extending the maximum prison sentence for criminal market abuse.
- Clearing: Securities. The European Central Bank’s €1 billion new trading link, Target2Securities, which connects settlement houses with the ECB, has gone live.