Treasury has made the Transparency Regulations 2015, which amend the Financial Services and Markets Act 2000 (FSMA) in line with the Transparency Directive. The Regulations make changes in respect of:
- comparable instruments;
- notification requirements for financial instruments;
- introducing a central storage system for all information required to be disclosed under the Directive;
- power for FCA to apply to the court for an order suspending the voting rights of shares of a person who has contravened the requirements of the Directive to notify changes in major shareholdings; and
- giving FCA discretion to delay publication of any sanctions for infringing the Directive or to make any publication of such sanctions anonymous.
The Regulations will take effect in stages, starting from 1 November. (Source: The Transparency Regulations 2015)