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Status: You are viewing the version of the handbook as on 2016-02-03.

DTR 1.4 Suspension of trading

DTR 1.4.1R

The FCA may require the suspension of trading of a financial instrument with effect from such time as it may determine if there are reasonable grounds to suspect non-compliance with the disclosure rules.

DTR 1.4.2RRP

If trading of an issuer's financial instruments is suspended, the issuer, any persons discharging managerial responsibilities and any connected person must continue to comply with all applicable disclosure rules.

DTR 1.4.3R

If the FCA has required the suspension of trading of any financial instruments, it may impose such conditions on the procedure for lifting the suspension as it considers appropriate.

DTR 1.4.4GRP

Examples of when the FCA may require the suspension of trading of a financial instrument include:

  1. (1)

    if an issuer fails to make a RIS announcement as required by the disclosure rules within the applicable time-limits which the FCA considers could affect the interests of investors or affect the smooth operation of the market; or

  2. (2)

    if there is or there may be a leak of inside information and the issuer is unwilling or unable to issue an appropriate RIS announcement within a reasonable period of time.

DTR 1.4.5GRP

The decision-making procedures to be followed by the FCA when it:

  1. (1)

    requires the suspension of trading of a financial instrument; or

  2. (2)

    refuses an application by an issuer to lift a suspension made under section 96C;

are set out in DEPP1.

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