FSA brings introduction of new CfD disclosure rules forward | 03/03/2009
The new rules were originally to have applied from September this year, however, to help improve the transparency in current market conditions, the regulator has moved the date forward by three months.
The new rules, set out in a policy statement published today (3 March), cover financial instruments in the same company, which give a legal right to acquire shares or have a similar economic effect to shares.
Shares and such financial instruments will have to be aggregated and disclosed once over the 3 per cent threshold to ensure that they are not used covertly to influence corporate governance and/or build up stakes in companies.
An exemption has also been put in place for CfD writers acting in a client-serving capacity to prevent unnecessary disclosures to the market.
FSA brings introduction of new CfD disclosure rules forward | 03/03/2009
Quelle: .ftadviser.com