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REC 2.12 4Availability of relevant information and admission of financial instruments to trading4

REC 2.12.1UK

Schedule to the Recognition Requirements Regulations, Paragraph 4(2)(c)

4Without prejudice to the generality of sub-paragraph [4(1)], the [UK RIE] must ensure that -

(c)

appropriate arrangements are made forrelevant informationto be made available (whether by the [UK RIE] or, where appropriate, byissuersof the [specified investments]) topersonsengaged indealingin [specified investments] on the [UK RIE];

REC 2.12.2UK

Schedule to the Recognition Requirements Regulations, Paragraph 4(3)

4In sub-paragraph [4(2)(c)],

"relevant information" means information which is relevant in determining the current value of the [specified investments].

REC 2.12.2AUK

Schedule to the Recognition Requirements Regulations, Paragraph 7A

4(1)

The [UK RIE] must make clear and transparent rules concerning the admission of financial instruments to trading on any trading venue7 operated by it.

[Note: MiFID RTS 17 specifies further conditions for financial instruments to be admitted to trading on regulated markets]7

(2)

[Note: the MiFI Regulations amending the Recognition Requirements Regulations]7

(3)

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(4)

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(5)

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(6)

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(7)

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(8)

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(9)

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(11)

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REC 2.12.2AAUK

7Schedule to the Recognition Requirements Regulations, Paragraph 9ZB

[Note: This paragraph is relevant to regulated markets only. See REC 2.16A regarding MTFs or OTFs.]

(1)

The rules of the [UK RIE] must ensure that all -

(a)

[financial instruments] admitted to trading on a [regulated market] operated by it are capable of being traded in a fair, orderly and efficient manner;

(b)

[transferable securities] admitted to trading on a [regulated market] operated by it are freely negotiable; and

(c)

contracts for derivatives admitted to trading on a [regulated market] operated by it are designed so as to allow for their orderly pricing as well as for the existence of effective settlement conditions.

[Note: MiFID RTS 17 specifies further conditions for financial instruments to be admitted to trading on regulated markets]

(2)

The rules of the [UK RIE] must provide that where the [UK RIE], without obtaining the consent of the issuer, admits to trading on a regulated market operated by it a transferable security which has been admitted to trading on another regulated market, the [UK RIE] -

(a)

must inform the issuer of that security as soon as is reasonably practicable; and

(b)

may not require the issuer of that security to demonstrate compliance with the disclosure obligations.

(3)

The [UK RIE] must maintain effective arrangements to verify that issuers of transferable securities admitted to trading on a regulated market operated by it comply with the disclosure obligations.

(4)

The [UK RIE] must maintain arrangements to assist members of or participants in a regulated market operated by it to obtain access to information made public under the disclosure obligations.

(5)

The [UK RIE] must maintain arrangements to regularly review regularly whether financial instruments admitted to trading on a regulated market operated by it comply with the admission requirements for those instruments.

[Note: see MiFID RTS 17]

(6)

In this paragraph -

“the disclosure obligations” are the initial ongoing and ad hoc disclosure requirements contained in-

(a)

Articles 17, 18 and 19 of the market abuse regulation;

(b)

Articles 3, 5, 7, 8, 14 and 16 of Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectuses to be published when securities are offered to the public or admitted to trading;

(c)

Articles 4 to 6, 15 and 16 to 19 of Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 relating to harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market; and

(d)

EU legislation made under the provisions mentioned in paragraphs (a) to (c);

and the legislation referred to in paragraphs (b) and (c) is given effect-

(a)

in the United Kingdom by Part 6 of the [Financial Services and Markets Act 2000] Act and Part 6 rules (within the meaning of section 73A of the Act); or

(b)

in another EEA State by legislation transposing the relevant Articles in that State.

REC 2.12.2BEU

[Note: article 1 of MiFID RTS 17]7

REC 2.12.2CEU

[deleted]7

REC 2.12.2DEU

[Note: article 2 of MiFID RTS 17]7

REC 2.12.2EEU

[Note: article 3 of MiFID RTS 17]7

REC 2.12.3D

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REC 2.12.4G

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REC 2.12.5G

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REC 2.12.6G

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REC 2.12.7G

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REC 2.12.8G

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REC 2.12.9G

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REC 2.12.10G

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REC 2.12.11G
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REC 2.12.12G

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REC 2.12.13G

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REC 2.12.14G
45555

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