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January 2007


Response to the FSA consultation paper CP 06/17 - Amendments to the Prospectus and Listing Rules

The Exchange has responded to this consultation paper and is broadly supportive of the suggested amendments therein. However, we question the proposals that listed companies must control their assets at all times on the basis that this would adversely affect issuers utilising co-investing models when managing significant funds for project development.

Additionally, we do not support an addition to the 'related party rules' incorporating a 10% materiality threshold where amendments to the terms of a transaction are concerned, since we consider this to be an area where subjectivity is required. We also query the proposal to extend the RICS standard for property valuation to companies incorporated in the Channel Islands and the Isle of Man on the basis that the original guidance is sufficient.

Lastly, we query the need for stipulating a three year minimum disclosure period for wholesale issuers that wish to file an annual information update, given that they would be doing so on a purely voluntary basis in the first place.

Downloads
Response to FSA CP 06/17 (pdffile pdf - 39 KB)

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