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LR 19.4 Continuing obligations

Application

LR 19.4.1 R

An issuer that has only securitised derivativelisted is subject to the continuing obligations set out in this chapter.

LR 19.4.2 R

An issuer that has both securitised derivatives and other securitieslisted is subject to the continuing obligations set out in this chapter and the continuing obligations that are applicable to the other securities so listed.

Admission to trading

LR 19.4.3 R
  1. (1)

    An issuer'slistedsecuritised derivatives must be admitted to trading on a RIE's market for listed securities at all times.

  2. (2)

    An issuer must inform the FCA in writing as soon as possible if it has:

    1. (a)

      requested a RIE to admit or re-admit any of its listedsecuritised derivatives to trading; or

    2. (b)

      requested a RIE to cancel or suspend trading of any of its listedsecuritised derivatives; or

    3. (c)

      been informed by a RIE that the trading of any of its listedsecuritised derivatives will be cancelled or suspended.

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LR 19.4.4 R

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LR 19.4.5 R

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LR 19.4.6 R

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LR 19.4.7 R

If an issue is guaranteed by an unlisted company, an issuer must submit the guarantor's accounts to the FCA.

LR 19.4.8 R

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LR 19.4.9 R

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Settlement arrangements

LR 19.4.10 R
  1. (1)

    An issuer must ensure that appropriate settlement arrangements for its listedsecuritised derivatives are in place.

  2. (2)

    Listedsecuritised derivatives must be eligible for electronic settlement, which includes settlement by a relevant system, as that term is defined in the Uncertificated Securities Regulations 1995 (SI 1995/3272).

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1Disclosure requirements and transparency rules

LR 19.4.11 R

An issuer must comply with the obligations referred to under articles 17 and 18 of the Market Abuse Regulation2 as if it were an issuer for the purposes of those obligations and2 the transparency rules, subject to article 22 of the Market Abuse Regulation2.

LR 19.4.11A G

1An issuer, whose securities are admitted to trading on a regulated market, should consider its obligations under DTR 4 (Periodic financial reporting), DTR 5 (Vote holder and issuer notification rules) and DTR 6 (Access to information).

LR 19.4.11B R

1For the purposes of compliance with the transparency rules, the FCA considers that an issuer of securitised derivatives should comply with DTR 4, DTR 5 and DTR 6 as if it were an issuer of debt securities as defined in the transparency rules.

LR 19.4.11C G

1An issuer that is not already required to comply with the transparency rules must comply with DTR 6.3 as if it were an issuer for the purposes of the transparency rules.

Documents of title

LR 19.4.12 R

An issuer must comply with the requirements in LR 9.5.15 R (temporary documents of title) and LR 9.5.16 R (definitive documents of title) so far as relevant to securitised derivatives.