The Investment Market Conduct Rules ("IMC
Rules")
Arrangers and issuers of securities will have noticed with
interest certain recent developments, on 15 July 2019, the Central
Bank of Ireland ("CBI") published a statement noting that it planned to proceed
with its proposed IMC Rules and to consolidate in them its
transparency, market abuse and prospectus requirements. The CBI
also published a feedback statement on Consultation Paper 121
(re Market Abuse and Transparency Rules) and a notification that no
feedback had been received on Consultation Paper 127 (re Prospectus
Rules).
The IMC Rules came into operation on 21 July 2019,
at the same time as the Prospectus Regulation (EU) 2017/1129 came
into effect. The existing Transparency, Market Abuse and Prospectus
Rules have been repealed and replaced by the IMC Rules.
