The FSA published a consultation paper (CP203) in October 2003 containing wide ranging and radical proposals for reforming the Listing Regime for equity, debt and financial products.
The review aimed to simplify and modernise the Listing Regime and at the same time to accommodate the impact of changes being proposed to the European regulatory framework. Its implications cross the boundaries into the legal, company secretarial, and financial accounting disciplines, but also impinges on the Treasurer’s capital raising process in the debt and equity markets.
At this stage the consultation paper was seeking views on policy. The proposals for detailed changes will not be presented until third quarter of 2004 in the form of a further consultation paper. Finalised rules should then be published in spring 2005 for implementation that summer.
