On 29 November 2016, we blogged that the FCA released Consultation Paper 16/38: DRT 2.5 change: delay in the disclosure of inside information (CP16/38) setting out proposed amendments to its Handbook in order to comply with the European Securities and Markets Authority’s (ESMA) guidelines on the delay in the disclosure of inside information, specifically DTR 2.5.

The FCA has now published Policy Statement 17/2: Changes to DTR 2.5: delay in the disclosure of inside information (PS17/2). In PS17/2 the FCA confirms that it has notified ESMA of its intention to comply with the guidelines on market soundings and the guidelines on delay in the disclosure of inside information.

The FCA does not need to make any changes to the Handbook to comply with the ESMA guidelines on market soundings. However, as pointed out in CP16/38, it does need to amend DTR 2.5 in order to comply with the ESMA guidelines on the delay in the disclosure of inside information.

In PS17/2 the FCA sets out its final amendments to DTR 2.5 and provides feedback on the responses received to its earlier consultation.

The revised Handbook text set out in Appendix 1 will come into force on 24 February 2017.

View MAR: FCA policy statement on changes to DTR 2.5 (delaying disclosure of inside information), 24 February 2017