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Status: You are viewing the version of the handbook as on 2016-06-30.

DTR 1.3 Information gathering and publication

Information gathering

DTR 1.3.1R

An issuer, person discharging managerial responsibilities or connected person must provide to the FCA as soon as possible following a request:

  1. (1)

    any information that the FCA considers appropriate to protect investors or ensure the smooth operation of the market; and

  2. (2)

    any other information or explanation that the FCA may require to verify whether the disclosure rules are being and have been complied with.

DTR 1.3.2GRP

In gathering information under DTR 1.3.1 R, the FCA may contact the issuer, person discharging managerial responsibilities, connected person or their adviser directly. Telephone calls to and from the FCA may be recorded for regulatory purposes. The FCA may also require the issuer, person discharging managerial responsibilities, connected person or their advisers to provide information in writing.

FCA may require the publication of information

DTR 1.3.3R

  1. (1)

    The FCA may, at any time, require an issuer to publish such information in such form and within such time limits as it considers appropriate to protect investors or to ensure the smooth operation of the market.

  2. (2)

    If an issuer fails to comply with a requirement under paragraph (1) the FCA may itself publish the information (after giving the issuer an opportunity to make representations as to why it should not be published).

Misleading information not to be published

DTR 1.3.4R

An issuer must take all reasonable care to ensure that any information it notifies to a RIS is not misleading, false or deceptive and does not omit anything likely to affect the import of the information.

DTR 1.3.5R

An issuer must not combine, in a manner likely to be misleading, a RIS announcement with the marketing of its activities. [Note: Article 2(1) 2003/124/EC]

Notification when a RIS is not open for business

DTR 1.3.6RRP

If an issuer is required to notify information to a RIS at a time when a RIS is not open for business, it must distribute the information as soon as possible to:

  1. (1)

    not less than two national newspapers in the United Kingdom;

  2. (2)

    two newswire services operating in the United Kingdom; and

  3. (3)

    a RIS for release as soon as it opens.

DTR 1.3.7GRP

The fact that a RIS is not open for business is not, in itself, sufficient grounds for delaying the disclosure or distribution of inside information.

English language

DTR 1.3.8R

A notification to a RIS that is required under the disclosure rules must be in English.