The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

  1. Introductory Text

  2. PART 1 General

    1. 1.Citation and commencement

    2. 2.Interpretation

  3. PART 2 Amendments of primary legislation

    1. CHAPTER 1 The Financial Services and Markets Act 2000

      1. 3.Introduction

      2. 4.Part 6 rules

      3. 5.Applications for listing

      4. 6.Matters which may be dealt with by prospectus rules

      5. 7.Prohibition of dealing etc in transferable securities without approved prospectus

      6. 8.Exempt offers to the public

      7. 9.Election to have prospectus

      8. 10.Criteria for approval of prospectus by FCA

      9. 11.Procedure for decision on application for approval

      10. 12.Repeal of sections 87E and 87F

      11. 13.Repeal of section 87FB

      12. 14.Repeal of sections 87H and 87I

      13. 15.Power to suspend or prohibit offer to the public

      14. 16.Power to suspend or prohibit admission to trading on a regulated market

      15. 17.Public censure of issuer

      16. 18.Repeal of section 87P

      17. 19.Transparency rules

      18. 20.Provision of voteholder information

      19. 21.Provision of information by issuers of transferable securities

      20. 22.Notification of voting rights held by issuer

      21. 23.Transparency rules: interpretation etc

      22. 24.Public censure of issuer

      23. 25.Power to suspend or prohibit trading of securities

      24. 26.Voting rights suspension orders

      25. 27.Corporate governance rules

      26. 28.Storage of regulated information

      27. 29.Liability for key investor information

      28. 30.Penalties for breach of Part 6 rules

      29. 31.Appointment by FCA of persons to carry out investigations

      30. 32.Repeal of section 100A

      31. 33.Meaning of “securities” etc.

      32. 34.Meaning of “offer of transferable securities to the public” etc.

      33. 35.Repeal of section 102C

      34. 36.Interpretation of Part 6 of FSMA 2000

      35. 37.Liability of issuers in connection with published information

      36. 38.Transferable securities excluded from certain provisions of section 85 of FSMA 2000

    2. CHAPTER 2 The Companies Act 2006

      1. 39.Repeal of section 1273 of the Companies Act 2006

  4. PART 3 Amendments of EU Regulations and EU Decision

    1. CHAPTER 1 Amendments of Commission Regulation (EC) No. 809/2004

      1. 40....

      2. 41.Subject-matter of Regulation

      3. 42.Definitions

      4. 43.Categories of information in the base prospectus and the final terms

      5. 44.Minimum information to be included in a prospectus

      6. 45.Share registration document schedule

      7. 46.Share registration document in cases of complex financial history or significant financial commitment

      8. 47.Securities note schedule for certain debt securities

      9. 48.Guarantees building block

      10. 49.Banks registration document schedule

      11. 50.Securities note schedule for certain debt securities

      12. 51.Additional information building block on the underlying share

      13. 52.Registration document schedule for collective investment undertakings of closed-end type

      14. 53.Registration document schedule for States and regional and local authorities

      15. 54.Additional building block for consent given in accordance with Article 3(2) of Directive 2003/71/EC

      16. 55.Minimum information to be included in a base prospectus and its related final terms

      17. 56.Adaptations to minimum information given in prospectuses and base prospectuses

      18. 57.Content of the summary etc.

      19. 58.Format of the prospectus

      20. 59.Format of base prospectus and its related final terms

      21. 60.Proportionate schedule for rights issues

      22. 61.Proportionate schedules for small and medium-sized enterprises etc.

      23. 62.Proportionate requirements for issues by certain credit institutions

      24. 63.Arrangements for incorporation by reference

      25. 64.Historical financial information

      26. 65.Omission of Article 36

      27. 66.Amendments of Annexes

    2. CHAPTER 2 Amendments of other EU Regulations and of EU Decision

      1. 67.Commission Regulation (EC) No 1569/2007

      2. 68.Commission Decision (EC) No 2008/961

      3. 69.European Parliament and Council Regulation (EU) 2017/1129

  5. PART 4 Transfer of directive functions to the Treasury or the FCA

    1. 70.Interpretation of Schedule 2

    2. 71.Transfer of directive functions to the Treasury

    3. 72.Transfer of directive functions to the FCA

  6. PART 5 Transitional provision

    1. 73.Prospectus approved before 21st July 2019 by competent authority of other EEA state

  7. Signature

    1. SCHEDULE 1

      Amendments of Annexes to Commission Regulation (EC) No 809/2004

      1. 1.(1) Annex 1 is amended as follows.

      2. 2.In Annex 4, in item 13.1— (a) in the first...

      3. 3.(1) Annex 7 is amended as follows.

      4. 4.In Annex 9, in item 11.1— (a) in the first...

      5. 5.(1) Annex 10 is amended as follows.

      6. 6.In Annex 11, in item 11.1— (a) in the first...

      7. 7.In Annex 15, in item 2.9, omit “Member”, in the first...

      8. 8.In Annex 16, in the heading, for “Member States, third...

      9. 9.In Annex 21, for “as referred to in recital 18...

      10. 10.(1) Annex 22 is amended as follows.

      11. 11.(1) Annex 23 is amended as follows.

      12. 12.(1) Annex 25 is amended as follows.

      13. 13.In Annex 26, in item 13.1— (a) in the first...

      14. 14.In Annex 27, in item 11.1— (a) in the first...

      15. 15.(1) Annex 28 is amended as follows.

      16. 16.(1) Annex 29 is amended as follows.

    2. SCHEDULE 2

      Transfer of functions to the Treasury and the FCA

      1. PART 1 Interpretation

        1. 1.In this Schedule— ... ... “the Disclosure Guidance and Transparency...

      2. PART 2 Directive functions transferred to the Treasury

        1. 2.The following purposes are specified for the purposes of regulation...

        2. 3.In order to take account of developments on financial markets,...

        3. 4.In order to take account of developments on financial markets,...

        4. 5.In order to take account of developments on financial markets,...

        5. 6.In order to take account of developments on financial markets,...

        6. 7.In order to take account of developments on financial markets,...

        7. 8.In order to take account of developments on financial markets,...

        8. 9.In order to take account of developments on financial markets,...

        9. 10.To establish for the purposes of transparency rules an indicative...

        10. 11.In order to take account of developments on financial markets,...

        11. 12.In order to take account of developments on financial markets,...

        12. 13.In order to take account of developments on financial markets,...

        13. 14.In order to take account of developments on financial markets,...

        14. 15.To clarify the conditions of independence to be complied with...

        15. 16.To specify the contents of the notification to be made,...

        16. 17.In order to take account of developments on financial markets,...

        17. 18.In order to take account of developments on financial markets...

        18. 19.To specify the minimum standards for— (a) the dissemination of...

        19. 20.To establish general criteria for the purposes of section 89A(4A)...

      3. PART 3 Directive functions transferred to FCA

        1. 21.The following purposes are specified for the purposes of regulation...

        2. 22.To make provision about the exemptions from the obligation to...

        3. 23.To make provision about the exemptions from the obligation to...

        4. 24.To make provision about the exemptions from the obligation to...

        5. 25.To make provision about the exemptions from the obligation to...

        6. 26.To make provision about the exemptions from the obligation to...

        7. 27.To make provision about the exemptions from the obligation to...

        8. 28.To make provision about the exemptions from the obligation to...

        9. 29.To make provision about the exemptions from the obligation to...

        10. 30.To make provision about the exemptions from the obligation to...

        11. 31.To specify the electronic reporting format for annual financial reports...

        12. 32.To specify the method of calculating any percentage threshold applying...

        13. 33.To establish standard forms, templates and procedures to be used...

        14. 34.To specify for the purposes of rule 5.3.3A of the...

        15. 35.To specify the cases in which the exemptions laid down...

  9. Explanatory Note