The FCA has published Guidance Consultation 15/3: Primary Market Bulletin No. 11 (GC15/3).

In GC15/3 the FCA is proposing a number of changes to the UK Listing Authority’s (UKLA) Knowledge Base, including:

  • amending UKLA Procedural note: Block listing;
  • adding six new technical notes (i.e. Investment management agreements and independence of the board; Infrastructure funds; Closed-ended investment funds with multiple share classes; Eligibility of closed-ended investment funds; Master-feeder structures; and Definition of ‘investment manager’);
  • amending three existing technical notes (i.e. Related party transactions – Modified requirements for smaller related party transactions; Related party transactions – Content of RIS announcement; and Sponsors: Conflicts of interest); and
  • deleting two existing technical notes (i.e. Approval of circulars and Circulars not requiring approval).

A summary of the proposals can be found in Primary Bulletin No. 11, which also notes that the FCA will be launching a new Electronic Submission System in May 2015.

View GC15/3 Primary Market Bulletin No. 11, 30 March 2015