UK and EU
Abstract
Capital Markets Law Journal, Vol. 2, No. 1 Latest Developments Section AâFinancial Services Action Plan The Policy Statement also sets out the FSAâs plans for further work on the disclosure of contracts for differences, and provides an update on the investment entities listing review. Removal of LSE Rules on Substantial Shareholdings to Reflect Implementation of the TD On 4 December 2006, the London Stock Exchange (LSE) published a notice and attachment stating that it would be deleting Exchange Rules 2300â2302 governing the disclosure of substantial shareholdings by market makers with effect from 20 January 2007, the date for implementation of the TD. The last day on which market makers must report their substantial shareholdings to the LSE was therefore 19 January 2007. From 20 January 2007, market makers are subject to the notification requirements of the FSAâs Transparency Rules. The Rules exempt market makers (acting in their capacity as market makers) from having to disclose their interests up to the 10 percent threshold. The LSE notice is available at the following link: http://www.londonstockexchange.com/NR/ rdonlyres/E59CD396-7E0B-4BC1-A302106480E14BE6/0/N7306Notificationnoticesub stantialshareholdings.pdf The attachment to the notice can be viewed at: http://www.londonstockexchange.com/NR/ rdonlyres/15CE9BCC-8D93-4C35-9E38CEAE4CF6514E/0/Notificationnoticeat tachmentsubstantialshareholdings.pdf Special TD Edition of List! The latest version of List! was