Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Content Options

View Options:

DTR 3.1

Purpose

DTR 3.1.1 G RP

1This chapter sets out the notification obligations of issuers, persons discharging managerial responsibilities and their connected persons in respect of transactions conducted on their own account in shares of the issuer, or derivatives or any other financial instrument relating to those shares.

Notification of transactions by persons discharging managerial responsibilities

DTR 3.1.2 R

Persons discharging managerial responsibilities and their connected persons, must notify the issuer in writing of the occurrence of all transactions conducted on their own account in the shares of the issuer, or derivatives or any other financial instruments relating to those shares within four business days of the day on which the transaction occurred. [Note: Article 6(4) Market Abuse Directive and Article 6(1) 2004/72/EC]

DTR 3.1.3 R

The notification required by DTR 3.1.2 R must contain the following information:

  1. (1)

    the name of the person discharging managerial responsibilities within the issuer, or, where applicable, the name of theperson connected with such a person;

  2. (2)

    the reason for responsibility to notify;

  3. (3)

    the name of the relevant issuer;

  4. (4)

    a description of the financial instrument;

  5. (5)

    the nature of the transaction (e.g. acquisition or disposal);

  6. (6)

    the date and place of the transaction; and

  7. (7)

    the price and volume of the transaction. [Note: Article 6(3) 2004/72/EC]

Notification of transactions by issuers to a RIS

DTR 3.1.4 R

  1. (1)

    An issuer must notify a RIS of any information notified to it in accordance with:

    1. (a)

      DTR 3.1.2 R; and

    2. (b)

      section 324 as extended by section 328 of the Companies Act 1985 or entered into the issuer's register in accordance with section 325(3) or (4) of the Companies Act 1985.

  2. (2)

    The notification to a RIS described in paragraph (1) must be made as soon as possible, and in any event by no later than the end of the business day following the receipt of the information by the issuer.

DTR 3.1.5 R

The notification required by DTR 3.1.4 R must include the information required by DTR 3.1.3 R together with the date on which the notification was made to the issuer.

DTR 3.1.6 R

If an issuer receives notification of the same dealing under both DTR 3.1.2 R and section 324 or section 328 of the Companies Act 1985, it must make clear in its notification to the RIS that a single transaction in respect of the same financial instrument has taken place.

DTR 3.1.7 G

An issuer may use the form entitled Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons to make the notification required by DTR 3.1.4 R.

DTR 3.1.8 R

An issuer with financial instrumentsadmitted to trading on a regulated market in the United Kingdom that does not fall within )DTR 1.1.1 R (2) or DTR 1.1.1 R (4), must notify equivalent information to that required by DTR 3.1.4 R and DTR 3.1.5 R to a RIS as soon as possible after the issuer becomes aware of the information.