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ARTICLE · 15 MAY 2014

Amendments To The Listing Rules In Force On 16 May 2014

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The Financial Conduct Authority has confirmed that amendments to the Listing Rules will come into force on 16 May 2014.

United KingdomFinance and Banking

The Financial Conduct Authority (FCA) has confirmed that amendments to the Listing Rules will come into force on 16 May 2014. The changes relate to: the obligations of premium listed companies with a controlling shareholder; the free float requirement; measures to prevent use of corporate structures to evade the Listing Rules; enhanced transparency around smaller related party transactions and in the annual report; guidance on the requirement for premium listed companies to carry on an independent business; extension of the obligation to notify the FCA of breaches; and the extension of two listing principles to standard listed companies.

Controlling shareholders

We commented in an earlier edition of Market reCap on proposals affecting premium listed companies which have a controlling shareholder, requiring them to enter into a relationship agreement and to put in place a dual voting procedure for the election of independent directors.

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