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ARTICLE · 01 DECEMBER 2015

Major Shareholding Notification And Other DTR Changes

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The major shareholding notification regime under the Disclosure and Transparency Rules (DTRs) is being amended with effect from 26 November 2015.

United KingdomCorporate/Commercial Law
Julian Grant
Julian Grant

The major shareholding notification regime under the Disclosure and Transparency Rules (DTRs) is being amended with effect from 26 November 2015.  Other changes are also being made to the DTRs from that date, including a requirement for issuers to notify the Financial Conduct Authority (FCA) and other competent authorities of their home member state.  Sanctions for breach of the DTRs are also being amended.

Background

On 20 March 2015, HM Treasury and the FCA published a consultation paper setting out proposed amendments to the Financial Services and Markets Act 2000 (FSMA) and the DTRs. The proposed changes to domestic legislation are required by an amending EU Directive to the Transparency Directive (known as the Transparency Directive Amending Directive).

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