CP14/2: Proposed amendments to the Listing Rules in relation to sponsor competence and other amendments to the Listing Rules and Prospectus Rules

We are consulting on amending our rules on sponsor competence, and on some other changes to the Listing Rules and Prospectus Rules.

Why are we publishing this consultation paper?

In this consultation paper, we set out our proposals to amend the Listing Rules and Guidance on sponsor competence, as well as asking for your views on joint sponsor arrangements. We are also consulting on two other proposals:

• removing a Listing Rule requirement for a premium listed issuer to have to prepare a 28-day circular, and
• creating new Prospectus Rules making it clear that an applicant is responsible for submitting a compliant and factually accurate prospectus

Consultation paper 14/2[1]

Who is this CP aimed at?

• premium listed issuers or issuers considering a premium listing on their securities
• firms and sponsors advising issuers of premium listed securities
• firms or persons investing in or dealing in premium listed securities, and
• those people responsible for submitting a prospectus to us for approval

The consultation will interest consumers who deal and invest in premium listed securities either directly or indirectly through institutions. It will also interest premium listed issuers or applicants for premium listing as consumers of sponsor services. The policy proposals raise issues around protecting investors.

What are the next steps?

We want to know what you think of our proposals. Please use the online response form[2] or write to us at the address on page 2 of the paper. 

The consultation period closes on 30 April 2014 and we intend to publish our response to your feedback – and the final rules – in the last quarter of 2014.

Want to find out more?

For more information:

• view the FCA Handbook[3]