Regulation 19 Transparency rulesI1

Section 89A (transparency rules) M1 is amended as follows.

For subsection (1) substitute—

“(1)

The FCA may make rules—

(a)

imposing requirements in relation to the disclosure of periodic or ongoing information about issuers whose securities are admitted to trading on a regulated market, and

(b)

dealing with matters arising out of or relating to such requirements.”.

In subsection (2), after “any matters” insert “ dealt with in the transparency obligations directive or with any matters that, when the United Kingdom was a member State, would have been matters ”.

After subsection (4) insert—

“(4A)

The provision that may be made by virtue of subsection (4)(g) includes (but is not limited to) provision, in the case of an issuer whose registered office is situated in a country or territory outside the United Kingdom, allowing exemption from specified provisions of rules under this section if—

(a)

the law of that country or territory is considered by the FCA to lay down equivalent requirements, or

(b)

the issuer complies with the requirements of the law of a country or territory that the FCA considers as equivalent.”.