As of 1 September, the Document Viewing Facility administered by the Financial Services Authority has been replaced by the National Storage Mechanism, which is managed by Morningstar plc.
The National Storage Mechanism is a repository of documents which are required by the Listing Rules, Disclosure and Transparency Rules or the Prospectus Rules to be filed and made available for public inspection. The new system is on-line and is therefore significantly more accessible than the Document Viewing Facility, which required attendance in Canary Wharf.
The National Storage Mechanism does not replace the Regulatory Information Service regime, but complements it by storing those announcements made through the RIS as well as documents such as prospectuses.
- familiarise themselves with arrangements for filing documents (details are available in the UKLA's publication National Storage Mechanism and its FAQs document)
- note that RNS announcements must still be made, including those about the availability of information, as they would have been previously (but, obviously, the references to the DVF will be replaced by the NSM). The UKLA's FAQs document includes example text
- note that prospectuses must still be made public in accordance with the Prospectus Rules
- note that regulatory announcements which are required to be published via an RIS will be automatically obtained by Morningstar via regulatory feeds and stored within the NSM. They do not need to be separately submitted. It is important that the correct headline code and category are used (otherwise searching on the system is impaired). A list of headline codes and categories can be found in the RIS Criteria, Appendix 1
- in relation to documents which may not necessarily have been publicly available previously (for example, prospectuses which were available on an issuer's website, but required access through threshold pages), give thought to the implications of increased availability.