The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001

5.—(1) In this paragraph—

• “admission to trading”, “securities” and “regulated market” are to be construed in accordance with regulation 2 of the Traded Securities (Disclosure) Regulations 1994(1);

• “the obligation of disclosure” means the obligation imposed by regulation 3 of those Regulations;

• “issuer” means a person who is subject to that obligation whose securities are admitted to trading on a regulated market which the exchange regulates and supervises; and

• “the relevant securities” means securities in relation to which the obligation of disclosure arises.

(2) The rules of the exchange must enable the exchange, in the event of a failure by an issuer to comply with the obligation of disclosure,—

(a) to discontinue the admission of the relevant securities to trading;

(b) to suspend trading in the relevant securities;

(c) to publish the fact that the issuer has failed to comply with the obligation of disclosure; and

(d) to make public itself any information which the issuer has failed to publish.

(3) This paragraph is without prejudice to the requirement in paragraph 4(2)(c) above.

(1)

S.I. 1994/188.