2010
In January 2010, RNS introduced a superior conversion tool to make it even easier for companies to submit their announcements to the market in the format and style they require.
New disclosure regime from the FSA - Apr 06, 2010
Effective from 6 April 2010, the FSA has restructured the Listing Regime into two listing segments - Premium and Standard. Securities with a Premium Listing are subject to more stringent super-equivalent standards while securities with a Standard Listing meet EU minimum standards. Companies will be able to migrate from one Listing segment/category to another without the need for cancellation and relisting.
RNS CUSTOMERS PLEASE NOTE - There are currently no requirements to provide information regarding listing category on any announcements made via an RIS. The UKLA website will provide information on the listing category of each security on the Official List, and the FCA are continuing to work with Primary and Secondary Information Providers to assess the most appropriate method of displaying this information.
More information about the changes together with a guide to Frequently Asked Questions can be found on the FCA's website.
New disclosure regime from The Takeover Panel - Apr 19, 2010
The Takeover Panel have announced changes to their disclosure regime with effect from 19 April 2010. The new rules will be applied to all offers and possible offers from that date.
"Opening position disclosures" must be made by any person who is interested in 1% or more of any class of relevant securities of an offeree or offeror company. The new rules will require disclosure of positions even if no trades are made during the offer period. Full details of the rule changes and the new disclosure requirements can be found on the Takeover Panel's website.
RNS CUSTOMERS PLEASE NOTE - From 19 April, a number of new headlines, together with their full descriptions, can be found here. New disclosure forms will also be available via RNS Submit. Simply click on the 'Templates' tab and select the relevant Rule 8 form from the dropdown list.
Please contact RNS Customer Services on +44 (0) 207 797 4400 should you require the forms in hard copy.
Changes to Short Selling disclosures – new form TR5 - Aug 06, 2010
Updated FSA rules on short selling came into force on 6 August 2010. The rules and guidance have been incorporated in FINMAR, the new Financial Stability and Market Confidence Sourcebook.
The rules are broadly unchanged but changes have been made to the disclosure requirements. Forms TR3 (rights issues) and TR4 (UK financial stocks) have been replaced by a single form TR5. The TR5 form should be used for disclosures of short positions relating to securities which are the subject of a rights issue and also for disclosures of short positions related to securities in a UK Financial Sector Company.
From 1st April 2013, the FSA became FCA (Financial Conduct Authority) taking over responsibility for conduct and relevant prudential regulation from the Financial Services Authority. Please visit https://www.fca.org.uk/markets/short-selling for more information.
RNS CUSTOMERS PLEASE NOTE: The new TR5 form is available in RNS Submit. Simply click on the ‘Templates’ tab and select the TR5 form from the dropdown list. Any disclosures under this rule and on the new form should be made by selecting the headline category 'Short Selling Disclosure'.