The aim of allowing smaller companies to raise money in London by moving away from the old prospectus and listing regime is surely laudable. To remind everyone, the essential features of the proposals are to:
On June 27, 2024, the Supreme Court issued a decision holding that the Securities and Exchange Commission’s (SEC) practice of seeking civil monetary penalties in securities fraud cases filed in its administrative forum violates the Seventh Amendment of the Constitution. SEC v. Jarkesy, No. 22–859 (June 27, 2024). The Supreme Court’s reasoning could
On 22 May 2024, the European Securities and Markets Authority (ESMA) published a Position Paper on ‘Building more effective and attractive capital markets in the EU’. The Position Paper includes 20 recommendations to strengthen EU capital markets and address the needs of European citizens and businesses.
ESMA’s recommendations for a well-functioning capital market
On 14 November 2023, the European Securities and Markets Authority (ESMA) updated its document setting out links to Member State websites where net short positions in shares are disclosed.
Article 9 of the Regulation on short selling and certain aspects of credit default swaps provides that net short position in shares should be
On 14 November 2023, the European Securities and Markets Authority (ESMA) updated its document setting out links to Member State websites where net short positions in shares are disclosed.
Article 9 of the Regulation on short selling and certain aspects of credit default swaps provides that net short position in shares should be
On 20 March 2023, the FCA updated its webpage on notification and disclosure of net short positions.
The webpage has been updated to provide the following updates:
On 3 February 2023, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) on the Prospectus Regulation.
The Q&As have been updated to include the following Q&A:
Question: Article 1(4)(d) of the prospectus regulation states: “The obligation to publish a prospectus set out in Article 3(1) shall
On 7 December 2022, the European Commission published the following proposals which follow up on its commitment to simplify EU listing rules, as detailed in Action 2 of the 2020 Capital Markets Union Action Plan:
On 2 December 2022, the FCA updated their webpage on the notification and disclosure of net short positions.
The webpage now includes a new section providing an update on the FCA’s review of the UK list of exempted shares. The FCA published an initial UK list of exempted shares on 31 December 2020. This
On 13 October 2022, the European Securities and Markets Authority published updated questions and answers (Q&As) on the Prospectus Regulation.
The Q&As now include Question 15.9: Prospectus exemption in connection with a takeover by means of an exchange offer.