• The EU Commission has published a regulatory technical standard relating to notification of major holdings in listed companies. It will come into effect on 26 November 2015 at the same time as revisions to the EU’s transparency directive. As previously reported, the FCA and the Treasury published a joint consultation paper earlier this year, setting out proposed changes to the Financial Services and Markets Act 2000 and the FCA’s Disclosure Rules and Transparency Rules to implement revisions to the EU’s transparency directive. The proposed changes, which must be implemented by 26 November, include amendments to the requirement to disclose voting rights arising from holdings of financial instruments that have a similar economic effect to holding shares.
  • Echoing the UK’s decision to introduce a central public registry of those individuals who have significant control of UK companies, Guernsey recently announced that it is consulting on whether to establish a central register of beneficial ownership information for Guernsey companies.