Regulatory Alerts2017-07-06
Added · Updated
PS18/11: Sovereign controlled companies
The Financial Conduct Authority establishes a new premium listing category for companies controlled by sovereign countries, modifying existing rules to remove the requirement for a controlling shareholder agreement and the need for advance sponsor opinions or independent shareholder approval for certain transactions with the sovereign. Companies in this category must still meet other premium listing standards, including maintaining an independent business, reporting against the UK Corporate Governance Code, employing a sponsor, and holding independent shareholder votes on the election of independent directors. The rules also require transparency regarding related party transactions with the sovereign while exempting these entities from the specific announcement obligations for such transactions that apply to other premium listed issuers.
More like this from FCA
FCA published 5 documents in the last 30 days. We email you each new one the day it's published.