LSE's notices monopoly under review
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE GOVERNMENT yesterday announced plans for a review of the way publicly quoted companies disseminate price-sensitive information. The changes could include the scrapping of the Regulatory News Service, with news issued via company web sites or news wire services such as Reuters and Bloomberg.
The review has been commissioned in the light of the proposed transfer of the UK Listing Authority function from the London Stock Exchange to the Financial Services Authority. This has been made necessary by the London Stock Exchange's decision to demutualise and transform itself into a commercial organisation.
Melanie Johnson, the Economic Secretary, said that other than for a short transitional period following the transfer, the listing rules would no longer require companies to submit announcements to the Exchange's company announcements office for distribution by RNS.
In response to a Parliamentary Question, Ms Johnson said: "Listed companies are required under the Listing Rules to submit announcements to the Exchange's Company Announcements Office for distribution to the public through the RNS. Although the Listing Rules do allow for simultaneous notification of announcements to other news organisations, we consider it would be inappropriate to retain this requirement other than for a transitional period when, subject to Parliament approving the necessary legislation, the FSA becomes the Competent Authority for listing.
"I have therefore asked the FSA to undertake a review of the arrangements for the dissemination of price-sensitive information by listed companies and to come forward with amendments to the current Listing Rules requirements in this area. The FSA will be launching a consultation exercise with interested parties to devise alternative arrangements."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments