DTR 1
Introduction
DTR 1.1
Application and purpose (Disclosure rules)
- 20/01/2007
DTR 1.1.1
See Notes
The disclosure rules apply as follows:
- (1) DTR 1 and DTR 2 apply to an issuer whose financial instruments are admitted to trading on a regulated market in the United Kingdom or for which a request for admission to trading on a regulated market in the United Kingdom has been made;
- (2) DTR 3 applies to an issuer that is incorporated in the United Kingdom:
- (a) whose financial instruments are admitted to trading on a regulated market; or
- (b) for whose financial instruments a request for admission to trading on a regulated market in the United Kingdom has been made;
- (3) the following apply to person discharging managerial responsibility, including directors, and connected persons:
- (a) DTR 1.1 and DTR 1.2;
- (b) DTR 1.3.1 R - DTR 1.3.2 G and DTR 1.3.8 R;
- (c) DTR 1.4;
- (d) DTR 1.5.3 G; and
- (e) DTR 3; and
- (4) DTR 3 applies to a non-EEA state issuer with the United Kingdom as its Home Member State.
- 01/07/2012
Purpose
DTR 1.1.2
See Notes
- 01/07/2005
FSA performing functions as competent authority
DTR 1.1.3
See Notes
Other relevant parts of Handbook
Note: Other parts of the Handbook that may also be relevant to persons to whom the disclosure rules apply include DEPP (Decision Procedure and Penalties Manual) and Chapter 9 of SUP (the Supervision manual).
The following Regulatory Guides are also relevant:
1. The Enforcement Guide (EG)
2. [intentionally blank]
Note: A list of regulated markets can be found on the FSA website at the following address: www.fsa.gov.uk/register/exchanges.do
- 28/08/2008
DTR 1.2
Modifying rules and consulting the FSA
- 01/07/2005
Modifying or dispensing with rules
DTR 1.2.1
See Notes
- 01/07/2005
DTR 1.2.2
See Notes
- 01/07/2005
DTR 1.2.3
See Notes
- 01/07/2005
Early consultation with FSA
DTR 1.2.4
See Notes
- 30/09/2012
DTR 1.2.5
See Notes
Address for correspondence
Note: The FSA's address for correspondence in relation to the disclosure rules is:
Company Monitoring Team |
Markets Division |
The Financial Services Authority |
25 The North Colonnade |
Canary Wharf |
London E14 5HS |
Fax: 020 7066 8368 (tbc) |
- 30/09/2012
DTR 1.3
Information gathering and publication
- 01/07/2005
Information gathering
DTR 1.3.1
See Notes
- 01/07/2005
DTR 1.3.2
See Notes
- 01/07/2005
FSA may require the publication of information
DTR 1.3.3
See Notes
- 01/07/2005
Misleading information not to be published
DTR 1.3.4
See Notes
- 01/07/2005
DTR 1.3.5
See Notes
- 01/07/2005
Notification when a RIS is not open for business
DTR 1.3.6
See Notes
- 01/07/2005
DTR 1.3.7
See Notes
- 01/07/2005
English language
DTR 1.3.8
See Notes
- 01/07/2005
DTR 1.4
Suspension of trading
- 01/07/2005
DTR 1.4.1
See Notes
- 01/07/2005
DTR 1.4.2
See Notes
- 01/07/2005
DTR 1.4.3
See Notes
- 01/07/2005
DTR 1.4.4
See Notes
- 01/07/2005
DTR 1.4.5
See Notes
- 28/08/2007
DTR 1.5
Fees, market abuse safe harbours and sanctions
- 01/07/2005
Fees
Market abuse safe harbours
DTR 1.5.2
See Notes
- 01/07/2005
Sanctions
DTR 1.5.3
See Notes
- 01/07/2005
DTR 1 Annex 2
The provisions outlined in DTR 1 Annex 2in relation to fees are set out in FEES 4 Annex 8R
- 01/01/2006
DTR 1A
Introduction (Transparency rules)
DTR 1A.1
Application and purpose (Transparency rules)
- 20/01/2007
DTR 1A.1.1
See Notes
- 20/01/2007
DTR 1A.1.2
See Notes
- 20/01/2007
Purpose
DTR 1A.1.3
See Notes
- 20/01/2007
FSA performing functions as competent authority
DTR 1A.1.4
See Notes
Other relevant parts of Handbook
Note: Other parts of the Handbook that may also be relevant to persons to whom the transparency rules apply include DEPP (Decision Procedure and Penalties Manual) and Chapter 9 of SUP (the Supervision manual).
The following Regulatory Guides are also relevant:
1. The Enforcement Guide (EG)
2. [intentionally blank]
Note: A list of regulated markets can be found on the FSA website at the following address: www.fsa.gov.uk/register/exchanges.do
- 28/08/2007
DTR 1A.2
Modifying rules and consulting the FSA
- 20/01/2007
Modifying or dispensing with rules
DTR 1A.2.1
See Notes
- 20/01/2007
DTR 1A.2.2
See Notes
- 20/01/2007
DTR 1A.2.3
See Notes
- 20/01/2007
Early consultation with FSA
DTR 1A.2.4
See Notes
- 30/09/2012
DTR 1A.2.5
See Notes
Address for correspondence
Note: The FSA's address for correspondence in relation to the disclosure rules is:
Company Monitoring Team |
Markets Division |
The Financial Services Authority |
25 The North Colonnade |
Canary Wharf |
London E14 5HS |
Fax: 020 7066 8368 |
- 30/09/2012
DTR 1A.3
FSA may require the publication of information
- 20/01/2007
DTR 1A.3.1
See Notes
- 20/01/2007
Misleading information not to be published
DTR 1A.3.2
See Notes
- 20/01/2007
DTR 1A.3.2A
See Notes
- 01/02/2012
Notification when a RIS is not open for business
DTR 1A.3.3
See Notes
- 20/01/2007
DTR 1A.4
Fees
- 20/01/2007
DTR 1B
Introduction (Corporate governance)
DTR 1B.1
Application and purpose (Corporate governance)
- 29/06/2008
Purpose: Audit committees
DTR 1B.1.1
See Notes
- 29/06/2008
Application: Audit committees
DTR 1B.1.2
See Notes
- 29/06/2008
Exemptions
DTR 1B.1.3
See Notes
[Note: Article 41.6(a) of the Audit Directive]
[Note: Article 41.6(c) of the Audit Directive]
- 29/06/2008
Purpose: Corporate governance statements
DTR 1B.1.4
See Notes
- 29/06/2008
Application: Corporate governance statements
DTR 1B.1.5
See Notes
- 29/06/2008
DTR 1B.1.5A
See Notes
- 06/08/2010
Exemption
DTR 1B.1.6
See Notes
- 29/06/2008
DTR 1B.2
Modifying rules and consulting the FSA
- 29/06/2008
DTR 1B.2.1
See Notes
- 29/06/2008
DTR 2
Disclosure and control of
inside information by issuers
DTR 2.1
Introduction and purpose
- 01/07/2005
Introduction
DTR 2.1.1
See Notes
- 01/07/2005
DTR 2.1.2
See Notes
- 01/07/2005
Purpose
DTR 2.1.3
See Notes
- 01/07/2005
DTR 2.2
Disclosure of inside information
- 01/07/2005
Requirement to disclose inside information
DTR 2.2.1
See Notes
- 01/07/2005
DTR 2.2.2
See Notes
- 01/07/2005
Identifying inside information
DTR 2.2.3
See Notes
- 01/07/2005
DTR 2.2.4
See Notes
- 01/07/2005
DTR 2.2.5
See Notes
- 01/07/2005
DTR 2.2.6
See Notes
- 01/07/2005
DTR 2.2.7
See Notes
- 01/07/2005
DTR 2.2.8
See Notes
- 01/07/2005
When to disclose inside information
DTR 2.2.9
See Notes
- 01/07/2005
Communication with third parties
DTR 2.2.10
See Notes
- 01/07/2005
DTR 2.3
Publication of information on internet site
- 01/07/2005
DTR 2.3.1
See Notes
- 01/07/2005
DTR 2.3.2
See Notes
- 01/07/2005
DTR 2.3.3
See Notes
- 01/07/2005
DTR 2.3.4
See Notes
- 01/07/2005
DTR 2.3.5
See Notes
- 01/07/2005
DTR 2.4
Equivalent information
- 01/07/2005
DTR 2.4.1
See Notes
Without prejudice to its obligations under DTR 2.2.1 R, an issuer must take reasonable care to ensure that the disclosure of inside information to the public is synchronised as closely as possible in all jurisdictions in which it has:
- (1) financial instruments admitted to trading on a regulated market;
- (2) requested admission to trading of its financial instruments on a regulated market; or
- (3) financial instruments listed on any other overseas stock exchange. [Note: Article 2(4) 2003/124/EC]
- 01/07/2005
DTR 2.4.2
See Notes
- 01/07/2005
DTR 2.5
Delaying disclosure of inside information
- 01/07/2005
Delaying disclosure
DTR 2.5.1
See Notes
- 01/07/2005
Legitimate interests and when delay will not mislead the public
DTR 2.5.2
See Notes
- 01/07/2005
DTR 2.5.3
See Notes
- 01/07/2005
DTR 2.5.4
See Notes
- 01/07/2005
DTR 2.5.5
See Notes
- 06/12/2008
DTR 2.5.5A
See Notes
- 06/12/2008
Selective disclosure
DTR 2.5.6
See Notes
- 01/07/2005
DTR 2.5.7
See Notes
- 01/07/2005
DTR 2.5.8
See Notes
- 01/07/2005
DTR 2.5.9
See Notes
- 01/07/2005
DTR 2.6
Control of inside information
- 01/07/2005
Denying access to inside information
DTR 2.6.1
See Notes
- 01/07/2005
Breach of confidentiality
DTR 2.6.2
See Notes
- 01/07/2005
DTR 2.6.3
See Notes
- 01/07/2005
DTR 2.6.4
See Notes
- 01/07/2005
DTR 2.7
Dealing with rumours
- 01/07/2005
DTR 2.7.1
See Notes
- 01/07/2005
DTR 2.7.2
See Notes
- 01/07/2005
DTR 2.7.3
See Notes
- 01/07/2005
DTR 2.8
Insider lists
- 01/07/2005
Requirement to draw up insider lists
DTR 2.8.1
See Notes
- 01/07/2005
Providing insider lists to the FSA on request
DTR 2.8.2
See Notes
- 01/07/2005
Contents of insider lists
DTR 2.8.3
See Notes
- 01/07/2005
Maintenance of insider lists
DTR 2.8.4
See Notes
- 01/07/2005
DTR 2.8.5
See Notes
- 01/07/2005
DTR 2.8.6
See Notes
- 01/07/2005
DTR 2.8.7
See Notes
- 01/07/2005
DTR 2.8.8
See Notes
- 01/07/2005
Acknowledgement of legal and regulatory duties
DTR 2.8.9
See Notes
- 01/07/2005
DTR 2.8.10
See Notes
- 01/07/2005
DTR 3
Transactions by persons
discharging managerial responsibilities and their connected persons
DTR 3.1
- 01/07/2005
Purpose
DTR 3.1.1
See Notes
- 01/07/2005
Notification of transactions by persons discharging managerial responsibilities
DTR 3.1.2
See Notes
- 01/07/2005
DTR 3.1.2A
See Notes
- 01/10/2012
DTR 3.1.3
See Notes
- 01/07/2005
Notification of transactions by issuers to a RIS
DTR 3.1.4
See Notes
- 06/03/2009
DTR 3.1.5
See Notes
- 01/07/2005
DTR 3.1.6
See Notes
- 06/10/2007
DTR 3.1.7
See Notes
- 01/07/2005
DTR 3.1.8
See Notes
- 01/07/2005
DTR 4
Periodic Financial Reporting
DTR 4.1
Annual financial report
- 20/01/2007
DTR 4.1.1
See Notes
- 20/01/2007
Compliance with the Listing Rules
DTR 4.1.2
See Notes
- 20/01/2007
Publication of annual financial reports
DTR 4.1.3
See Notes
- 20/01/2007
DTR 4.1.4
See Notes
- 20/01/2007
Content of annual financial reports
DTR 4.1.5
See Notes
[Note: article 4(2) of the TD]
- 20/01/2007
Audited financial statements
DTR 4.1.6
See Notes
[Note: article 4(3) of the TD]
- 20/01/2007
Auditing of financial statements
DTR 4.1.7
See Notes
[Note: article 4(4) of the TD]
- 29/06/2008
Content of management report
DTR 4.1.8
See Notes
- 20/01/2007
DTR 4.1.9
See Notes
consistent with the size and complexity of the business;
- 20/01/2007
DTR 4.1.10
See Notes
- 20/01/2007
DTR 4.1.11
See Notes
- 20/01/2007
Responsibility statements
DTR 4.1.12
See Notes
[Note: article 4(2)(c) of the TD]
- 20/01/2007
DTR 4.1.13
See Notes
- 20/01/2007
DTR 4.2
Half-yearly financial reports
- 20/01/2007
Application
DTR 4.2.1
See Notes
- 20/01/2007
Publication of half-yearly financial reports
DTR 4.2.2
See Notes
[Note: article 5(1) of the TD]
- 20/01/2007
Content of half-yearly financial reports
DTR 4.2.3
See Notes
[Note: article 5(2) of the TD]
- 20/01/2007
Preparation and content of condensed set of financial statements
DTR 4.2.4
See Notes
- 20/01/2007
DTR 4.2.5
See Notes
[Note: article 5(3) of the TD]
[Note: article 3(2) of the TD implementing Directive]
[Note: article 3(2) of the TD implementing Directive]
[Note: article 3(3) of the TD implementing Directive]
- 20/01/2007
DTR 4.2.6
See Notes
- 20/01/2007
Content of interim management report
DTR 4.2.7
See Notes
[Note: article 5(4) of the TD]
- 20/01/2007
DTR 4.2.8
See Notes
[Note: Article 43(1)(7b) of Directive 78/660/EC]
[Note: Article 43(1)(7b) of Directive 78/660/EC]
- 20/01/2007
Auditing of the condensed set of financial statements
DTR 4.2.9
See Notes
[Note: article 5(5) of the TD]
- 20/01/2007
Responsibility statements
DTR 4.2.10
See Notes
[Note: article 5(2)(c) of the TD]
[Note: article 5(2)(c) of the TD]
[Note: article 5(2)(c) of the TD]
- 20/01/2007
DTR 4.2.11
See Notes
- 20/01/2007
DTR 4.3
Interim management statements
- 20/01/2007
Application
DTR 4.3.1
See Notes
- 20/01/2007
Publication of interim management statements
DTR 4.3.2
See Notes
- 20/01/2007
DTR 4.3.3
See Notes
[Note: article 6(1) of the TD]
- 20/01/2007
Content of interim management statements
DTR 4.3.4
See Notes
[Note: article 6(1) of the TD]
- 20/01/2007
DTR 4.3.5
See Notes
[Note: article 6(1) of the TD]
- 20/01/2007
DTR 4.3.6
See Notes
will be taken as satisfying the requirement to make public the statements required by DTR 4.3.2 R.
[Note: article 6(2) of the TD]
- 20/01/2007
DTR 4.4
Exemptions
- 20/01/2007
Public sector issuers
DTR 4.4.1
See Notes
[Note: article 8(1)(a) of the TD]
- 20/01/2007
Debt issuers
DTR 4.4.2
See Notes
[Note: article 8(1)(b) of the TDand article 45(1) of the Audit Directive]
- 01/07/2012
DTR 4.4.3
See Notes
[Note: article 8(2) of the TD]
- 20/01/2007
DTR 4.4.4
See Notes
[Note: article 8(3) of the TD]
- 20/01/2007
Issuers of convertible securities
DTR 4.4.5
See Notes
- 20/01/2007
Issuers of preference shares
DTR 4.4.6
See Notes
- 20/01/2007
Issuers of depository receipts
DTR 4.4.7
See Notes
- 20/01/2007
Non-EEA States - Equivalence
DTR 4.4.8
See Notes
- 06/05/2010
DTR 4.4.9
See Notes
- 20/01/2007
DTR 5
Vote Holder and Issuer Notification Rules
DTR 5.1
Notification of the acquisition or disposal of major shareholdings
- 20/01/2007
DTR 5.1.1
See Notes
- 01/10/2009
DTR 5.1.2
See Notes
[Note: articles 9(1) and 9(2) of the TD ]
- 01/11/2010
Certain voting rights to be disregarded
DTR 5.1.3
See Notes
by a credit institution or investment firm provided that:
[Note: articles 9(4), 9(5), 9(6) and 10(c) of the TD ]
- 01/06/2009
DTR 5.1.4
See Notes
[Note: articles 9(5) and 9(6) of the TD ]
[Note: article 6(1) of the TD implementing Directive ]
- 01/06/2009
Certain voting rights to be disregarded (except at 5% 10% and higher thresholds)
DTR 5.1.5
See Notes
- 20/01/2007
DTR 5.2
Acquisition or disposal of major proportions of voting rights
- 20/01/2007
DTR 5.2.1
See Notes
Case | |
(a) | voting rights held by a third party with whom that person has concluded an agreement, which obliges them to adopt, by concerted exercise of the voting rights they hold, a lasting common policy towards the management of the issuer in question; |
(b) | voting rights held by a third party under an agreement concluded with that person providing for the temporary transfer for consideration of the voting rights in question; |
(c) | voting rights attaching to shares which are lodged as collateral with that person provided that person controls the voting rights and declares its intention of exercising them; |
(d) | voting rights attaching to shares in which that person has the life interest; |
(e) | voting rights which are held, or may be exercised within the meaning of points (a) to (d) or, in cases (f) and (h) by a person undertaking investment management, or by a management company, by an undertaking controlled by that person; |
(f) | voting rights attaching to shares deposited with that person which the person can exercise at its discretion in the absence of specific instructions from the shareholders; |
(g) | voting rights held by a third party in his own name on behalf of that person; |
(h) | voting rights which that person may exercise as a proxy where that person can exercise the voting rights at his discretion in the absence of specific instructions from the shareholders. |
[Note: article 10 of the TD ]
- 06/04/2007
DTR 5.2.2
See Notes
- 20/01/2007
DTR 5.2.3
See Notes
- 20/01/2007
DTR 5.2.4
See Notes
[Note: article 11 of the TD .]
- 20/01/2007
DTR 5.2.5
See Notes
[Note: article 8(3) of the TD implementing Directive .]
- 20/01/2007
DTR 5.3
Notification of voting rights arising from the holding of certain financial instruments
- 20/01/2007
DTR 5.3.1
See Notes
- 01/11/2010
DTR 5.3.1A
See Notes
- 01/11/2010
DTR 5.3.2
See Notes
- 01/06/2009
DTR 5.3.3
See Notes
[Note: Recital 13 of the TD implementing Directive]
- 01/06/2009
DTR 5.3.4
See Notes
- 01/06/2009
DTR 5.4
Aggregation of managed holdings
- 20/01/2007
DTR 5.4.1
See Notes
[Note: articles 12(4) of the TD ]
- 20/01/2007
DTR 5.4.2
See Notes
[Note: article 12(5) of the TD ]
- 20/01/2007
DTR 5.4.3
See Notes
[Note: article 10(1) of the TD implementing Directive ]
- 20/01/2007
DTR 5.4.4
See Notes
[Note: article 10(2) of the TD implementing Directive ]
- 06/04/2007
DTR 5.4.5
See Notes
[Note: article 10(3) of the TD implementing Directive ]
- 20/01/2007
DTR 5.4.6
See Notes
[Note: article 10(4) of the TD implementing Directive ]
- 06/04/2007
DTR 5.4.7
See Notes
- 20/01/2007
DTR 5.4.8
See Notes
[Note: article 10(5) of the TD implementing Directive ]
- 20/01/2007
DTR 5.4.9
See Notes
[Article 23(6) TD ]
- 01/07/2011
DTR 5.4.10
See Notes
- 20/01/2007
DTR 5.4.11
See Notes
[Note: article 23 of the TD implementing Directive ]
- 06/04/2007
DTR 5.5
Acquisition or disposal by issuer of shares
- 20/01/2007
DTR 5.5.1
See Notes
- 06/04/2007
DTR 5.5.2
See Notes
- 20/01/2007
DTR 5.5.3
See Notes
- 20/01/2007
DTR 5.6
Disclosures by issuers
- 20/01/2007
DTR 5.6.1
See Notes
- 20/01/2007
DTR 5.6.1A
See Notes
- 01/11/2010
DTR 5.6.1B
See Notes
- 01/11/2010
DTR 5.6.2
See Notes
- 20/01/2007
DTR 5.6.3
See Notes
- 01/11/2010
DTR 5.7
Notification of combined holdings
- 20/01/2007
DTR 5.7.1
See Notes
- 01/06/2009
DTR 5.7.2
See Notes
- 20/01/2007
DTR 5.8
Procedures for the notification and disclosure of major holdings
- 20/01/2007
DTR 5.8.1
See Notes
- 20/01/2007
DTR 5.8.2
See Notes
[Note: articles 11(3), (4) and (5) of the TD implementing Directive ]
- 01/06/2009
DTR 5.8.3
See Notes
[Note: articles 12(1), and 12(2) of the TD and article 9 of the TD implementing Directive ]
- 20/01/2007
DTR 5.8.4
See Notes
[Note: article 8 of the TD implementing Directive ]
- 20/01/2007
DTR 5.8.5
See Notes
- 20/01/2007
DTR 5.8.6
See Notes
[Note: article 12(3) of the TD ]
- 20/01/2007
DTR 5.8.7
See Notes
- 20/01/2007
DTR 5.8.8
See Notes
[[Note: article 9(2) of the TD and article 11(3) of the TD implementing Directive]
- 01/11/2010
DTR 5.8.9
See Notes
[Note: article 7 of the TD implementing Directive ]
- 06/04/2007
DTR 5.8.10
See Notes
- 20/01/2007
DTR 5.8.11
See Notes
- 20/01/2007
DTR 5.8.12
See Notes
[Note: article 12(6) of the TD ]
- 20/01/2007
DTR 5.9
Filing of information with competent authority
- 20/01/2007
DTR 5.9.1
See Notes
[Note: article 19(3) of the TD ]
- 20/01/2007
DTR 5.10
Use of electronic means for notifications and filing
- 20/01/2007
DTR 5.10.1
See Notes
- 20/01/2007
DTR 5.11
Non EEA State issuers
- 06/04/2007
DTR 5.11.1
See Notes
[Note: article 19 of the TD implementing Directive ]
- 20/01/2007
DTR 5.11.2
See Notes
[Note: article 20 of the TD implementing Directive ]
- 20/01/2007
DTR 5.11.3
See Notes
[Note: article 21 of the TD implementing Directive ]
- 20/01/2007
DTR 5.11.4
See Notes
- 20/01/2007
DTR 5.11.5
See Notes
- 20/01/2007
DTR 5.11.6
See Notes
- 20/01/2007
DTR 6
Continuing obligations and access to information
DTR 6.1
Information requirements for issuers of shares and debt securities
- 20/01/2007
Application
DTR 6.1.1
See Notes
- 20/01/2007
Amendments to constitution
DTR 6.1.2
See Notes
[Note: article 19(1) of the TD ]
- 20/01/2007
Equality of treatment
DTR 6.1.3
See Notes
- 20/01/2007
Exercise of rights by holders
DTR 6.1.4
See Notes
- 20/01/2007
Exercise of rights by proxy
DTR 6.1.5
See Notes
[Note: articles 17(2)(b) and 18(2)(b) of the TD ]
- 20/01/2007
Appointment of a financial agent
DTR 6.1.6
See Notes
- 20/01/2007
Electronic Communications
DTR 6.1.7
See Notes
- 20/01/2007
DTR 6.1.8
See Notes
[Note: articles 17(3) and 18(4) of the TD ]
- 20/01/2007
Information about changes in rights attaching to securities
DTR 6.1.9
See Notes
- 20/01/2007
DTR 6.1.10
See Notes
- 20/01/2007
DTR 6.1.11
See Notes
- 20/01/2007
Information about meetings, issue of new shares and payment of dividends share issuers
DTR 6.1.12
See Notes
- 20/01/2007
DTR 6.1.13
See Notes
- 20/01/2007
Information about meetings and payment of interest - debt security issuers
DTR 6.1.14
See Notes
[Note: article 18(2)(a) of the TD ]
- 20/01/2007
DTR 6.1.15
See Notes
- 01/07/2012
Non-EEA State exemption
DTR 6.1.16
See Notes
- 20/01/2007
DTR 6.1.17
See Notes
- 20/01/2007
Regional and local authority exemption
DTR 6.1.18
See Notes
- 20/01/2007
Exemption for issuers of convertible securities, preference shares and depository receipts
DTR 6.1.19
See Notes
- 20/01/2007
DTR 6.2
Filing information and use of language
- 20/01/2007
Application
DTR 6.2.1
See Notes
- 20/01/2007
Filing of information with FSA
DTR 6.2.2
See Notes
- 20/01/2007
DTR 6.2.3
See Notes
- 20/01/2007
Language
DTR 6.2.4
See Notes
- 20/01/2007
DTR 6.2.5
See Notes
[Note: article 20(2) of the TD ]
- 20/01/2007
DTR 6.2.6
See Notes
at the choice of the issuer.
[Note: article 20(3) of the TD ]
- 20/01/2007
DTR 6.2.7
See Notes
[Note: article 20(4) of the TD ]
- 20/01/2007
DTR 6.2.8
See Notes
[Note: article 20(6)of the TD ]
- 01/07/2012
English language
DTR 6.2.9
See Notes
- 20/01/2007
DTR 6.3
Dissemination of information
- 20/01/2007
Application
DTR 6.3.1
See Notes
- 20/01/2007
DTR 6.3.2
See Notes
- 20/01/2007
DTR 6.3.3
See Notes
[Note: article 12(1) of the TD implementing directive]
- 06/10/2007
DTR 6.3.4
See Notes
[Note: article 12(2) of the TD implementing directive]
- 06/10/2007
DTR 6.3.5
See Notes
[Note: article 12(3) of the TD implementing directive]
[Note: article 12(3) of the TD implementing directive ]
- 06/10/2007
DTR 6.3.6
See Notes
- 20/01/2007
DTR 6.3.7
See Notes
[Note: article 12(5) of the TD implementing directive ]
- 20/01/2007
DTR 6.3.8
See Notes
[Note: article 12(5) of the TD implementing directive ]
- 20/01/2007
DTR 6.3.9
See Notes
- 20/01/2007
Disclosure of information in a non-EEA State
DTR 6.3.10
See Notes
[Note: article 23(3) of the TD ]
- 20/01/2007
DTR 6.4
Choice of Home State and notifications by third country issuers
- 20/01/2007
Application
DTR 6.4.1
See Notes
- 20/01/2007
Choice of Home State
DTR 6.4.2
See Notes
[Note: article 2 of the TD implementing Directive ]
- 20/01/2007
DTR 7
Corporate governance
DTR 7.1
Audit committees
- 29/06/2008
Audit committees and their functions
DTR 7.1.1
See Notes
- 29/06/2008
DTR 7.1.2
See Notes
- 29/06/2008
DTR 7.1.3
See Notes
- 29/06/2008
DTR 7.1.4
See Notes
- 29/06/2008
DTR 7.1.5
See Notes
- 29/06/2008
DTR 7.1.6
See Notes
- 29/06/2008
DTR 7.1.7
See Notes
- 06/08/2010
DTR 7.2
Corporate governance statements
- 29/06/2008
DTR 7.2.1
See Notes
- 29/06/2008
DTR 7.2.2
See Notes
- 29/06/2008
DTR 7.2.3
See Notes
- 29/06/2008
DTR 7.2.4
See Notes
- 06/08/2010
DTR 7.2.5
See Notes
- 29/06/2008
DTR 7.2.6
See Notes
- 29/06/2008
DTR 7.2.7
See Notes
- 29/06/2008
DTR 7.2.8
See Notes
- 06/08/2010
DTR 7.2.9
See Notes
- 29/06/2008
DTR 7.2.10
See Notes
- 29/06/2008
DTR 7.2.11
See Notes
- 29/06/2008
Transitional Provisions
DTR TP 1
Disclosure and transparency rules
DTR Sourcebook - Transitional Provisions
(1) | (2) Material to which the Transitional provisionsapplies | (3) | (4) Transitional provision | (5) Transitional Provision: dates in force | (6) Handbook Provision: coming into force | ||
1 | All of DTR chapter 4 | R | DTR 4 shall have effect as follows: | From 20 January 2007 | |||
(a) | an issuer whose financial year begins on or after 20 January 2007 must comply with DTR 4 as of 20 January 2007; and | ||||||
(b) | an issuer whose financial year starts before 20 January 2007 must comply with DTR 4 as of the beginning of its next financial year. | ||||||
2 | DTR 4.2 | R | (1) | This provision applies to an issuer of debt securities which were admitted to the official list before 1 January 2005 pursuant to Chapter 23 of the Listing Rules | From 20 January 2007 till 10 years following 1 January 2005 | ||
(2) | An issuer need not disclose its half-yearly financial report in accordance with DTR 4.2. | ||||||
(3) | This provision has effect for 10 years following 1 January 2005 | ||||||
[Note: article 30.4 TD] | |||||||
3 | 4.1.6 and 4.2.4 | R | An issuer need not prepare its financial statement in accordance with DTR 4.1.6 R or DTR 4.2.4 R for any financial year beginning before 1 January 2007 if: | From 20 January 2007 | |||
(a) | the issuer's registered office is in a non-EEA State; and | ||||||
(b) | the issuer prepares its financial statements in accordance with internationally accepted standards. | ||||||
[Note: article 23.2 TD] | |||||||
3A | 4.1.6 and 4.2.4 | R | An issuer whose registered office is in a third country is exempt from the requirement to prepare its consolidated accounts in accordance with IFRS or IAS prior to financial years starting on or after 1 January 2009, provided that it prepares its annual consolidated financial statements and half yearly consolidated financial statements in accordance the accounting standards of a third country and provided that one of the following conditions is met: | 6 April 2007 - issuer's financial year starting on or after 1 January 2009 | 20 January 2007 | ||
(a) | the notes to the financial statements contain an explicit and unreserved statement that they comply with International Financial Reporting Standards in accordance with IAS 1 Presentation of Financial Statements; | ||||||
(b) | the financial statements are prepared in accordance with the Generally Accepted Accounting Principles of either Canada, Japan or the United States of America; | ||||||
(c) | the financial statements are prepared in accordance with the Generally Accepted Accounting Principles of a third country other than Canada, Japan or the United States and the following conditions are satisfied; | ||||||
(i) | the third country authority responsible for the national accounting standards in question has made a public commitment, before the start of the financial year to which the financial statements relate, to converge those standards with International Financial Reporting Standards; | ||||||
(ii) | that authority has established a work programme which demonstrates the intention to progress towards convergence before 31 December 2008; and | ||||||
(iii) | the issuer provides evidence that satisfies the competent authority that the conditions in (i) and (ii) and met. | ||||||
[Note: article 1 of Commission Decision of 4 December 2006 (2006/891/EC)] | |||||||
4 | 4.2.4 | R | (1) | This provision applies to an issuer: | From 20 January 2007 | ||
(a) | whose debt securities only are admitted to trading; and | ||||||
(b) | whose Home State is the United Kingdom | ||||||
(2) | An issuer is not required to disclose financial statements in accordance with DTR 4.2.4 R (1) for the financial year beginning on or after 1 January 2006. | ||||||
[Note: article 30.1 TD] | |||||||
5 | 4.1.6 and 4.1.8 to 4.1.11 | R | (1) | This provision applies to an issuer of debt securities: | From 20 January 2007 | ||
(a) | that is incorporated in a non-EEA State; | ||||||
(b) | whose Home State is the United Kingdom; and | ||||||
(c) | whose debt securities were admitted to trading in the EEA prior to 1 January 2005 | ||||||
(2) | An issuer need not draw up its financial statements in accordance with DTR 4.1.6 R or its management report in accordance with DTR 4.1.8 R to DTR 4.1.11 R provided: | ||||||
(a) | the annual financial statements prepared by issuers from that non-EEA State give a true and fair view of the issuer's assets and liabilities, financial position and results; | ||||||
(b) | the non-EEA State where the issuer is incorporated has not made mandatory the application of IAS or IFRS; and | ||||||
(c) | the Commission has not taken any decision, in accordance with article 23.4(ii) of the TD, as to whether there is an equivalence between IAS and IFRS and: | ||||||
(i) the accounting standards laid down in the law, regulations or administrative provisions of the non-EEA State where the issueris incorporated; or | |||||||
(ii) the accounting standards of the non-EEA State such an issuer has elected to comply with. | |||||||
[Note: article 30.3 TD] | |||||||
5A | DTR 4.1.7R (4) | R |
DTR 4.1.7R (4) shall have effect as follows: An issuer whose financial year begins before 29 June 2008 must comply with DTR 4.1.7R (4) as of the beginning of its next financial year. | From 29 June 2008 | 29 June 2008 | ||
6 | 5.6.1 | R | DTR 5.6.1 R has effect as if it required, additionally, each issuer to make public (in the case of a regulated marketissuer by publication to a RIS): | 16 December 2006 | |||
(i) | by not later than 31 December 2006 the total number of voting rights in respect of each class of share which it issues and which is admitted to trading on a regulated market or UKprescribed market and distinguishing the number of voting rights attaching to any shares held by the issuer in treasury; | ||||||
(ii) | any subsequent alteration of that total number of voting rights and of voting rights attaching to treasury shares occurring between the date on which the disclosure in (i) is made and 20 January 2007. | ||||||
7 | 5.8.3 | R | Notwithstanding DTR 5.8.3 R a person who, holds a notifiable percentage of voting rights, must notify the issuer by not later than 20 March 2007 of the percentage of voting rights he holds unless it has already made a notification in accordance with DTR 5.1.2 R before that date. [TDarticle 30(2)] | From 20 January 2007 | |||
8 | 5.8.12 | R | Notwithstanding DTR 5.8.12 R, an issuer must disclose the information received under TP 7 by not later than 20 April 2007[TD article 30(2)] | From 20 January 2007 | |||
9 | TP 7 and TP 8 | G | TP 7 and TP 8 are default provisions which will ensure that a person with a substantial proportion of voting rights which is at or above a threshold makes a notification to the issuer of those voting rights by not later than 20 March 2007 if such a person has not otherwise since 20 January 2006 made a notification at an earlier date (because for example of an acquisition or disposal of voting rights or because of a change in the total of voting rights in issue). Where such a notification is made the issuer must publish the information by not later than 20 April 2007. | ||||
10 | All of DTR chapter 5 | R | (1) | References to a person who is authorised under MIFID shall be taken as references to a person who is authorised under the ISD. | From 20 January 2007 to 31 October 2007 | ||
(2) | The reference in DTR 5.4.9 R to portfolio management under point 4 of Section A of Annex 1 to MiFID shall be read as referring to the service of portfolio management under point 3 of Annex A of the ISD. | ||||||
11 | All of DTR chapter 5 | R | References to a regulated market shall be taken as references to a market as defined by point 13 of article 1 of the ISD. | From 20 January 2007 to 31 October 2007 | |||
12 | 6.1.8(1) | R | In the case of an issuer which is a company within the meaning of the Companies Act 2006, nothing in DTR 6.1.8 R (1) requires a decision to use electronic means to convey information to holders to be taken in a general meeting to the extent to which the issuer could lawfully use such means before 20 January 2007. | From 20 January 2007 | |||
13 | DTR provisions referring to Companies Acts 1985, 2006 or related provisions. | R | (1) To the extent that the whole or part of a provision of the Companies Act 2006 is yet to come into force, any reference to that provision or part of it should be read as a reference to the corresponding provision of the Companies Act 1985 currently in force (subject to the application of any relevant transitional provisions in the Companies Act 2006 or the rules). (2) To the extent that the whole or part of a provision of the Companies Act 1985 is no longer in force it shall be read as a reference to the corresponding provision of the Companies Act 2006 or relevant DTRrule that has superseded it (subject to the application of any relevant transitional provisions). | 6 October 2007 | 20 January 2007 | ||
14 | All of DTR chapter 7 | R |
DTR 7 shall have effect as follows: An issuer whose financial year begins before 29 June 2008 must comply with DTR 7 as of the beginning of its next financial year. | From 29 June 2008 | 29 June 2008 | ||
15 | DTR 5.1.2 R, DTR 5.3.1 R, DTR 5.8.2R (1) and DTR 5.8.2 R (4), DTR 5.8.10 R | R | For financial instruments having similar economic effects to (but which are not) qualifying financial instruments within DTR 5.3.2 R, but which do not have a linear, symmetric pay-off (that is, a 'delta 1) profile for the purposes of DTR 5.3.3 G (2)(b), a person making a notification under DTR 5.1.2 R and DTR 5.8.2R (1) may, at their option, treat each financial instrument in question as having a delta 1 profile, but only if the person also makes a notification to the issuer of the total number voting rights relating to shares referenced by, and the strike, or execution, price of, each such financial instrument. | 1 June 2009 to 31 December 2009 | 1 June 2009 | ||
16 | DTR TP 15 | G | The effect of TP 15 is that persons holding financial instruments falling within DTR 5.3.3 G (2)(b) have a choice as to how they notify their deemed holding of voting rights in the underlying shares, either on a delta adjusted or nominal basis. Where notification is made on a nominal basis, extra information is required so that the delta adjusted position is capable of being calculated (when used in conjunction with information about the maturity or expiry date (notifiable under DTR 5.8.2 R) and other information derivable from publicly available sources, for example, relating to volatility). | 1 June 2009 to 31 December 2009 | 1 June 2009 | ||
17 | DTR 5.1.2 R, DTR 5.3.1 R, DTR 5.8, DTR 5.9 | R | A notification of the strike, or execution, price of, and the total number of voting rights relating to shares referenced by, each financial instrument for the purposes of TP 15 is to be treated as part of the notification to the issuer and references to 'notification' shall be construed accordingly. | 1 June 2009 to 31 December 2009 | 1 June 2009 | ||
18 | DTR 7.1.7 G DTR 7.2.4 G DTR 7.2.8 G | R | References to provisions in the UK Corporate Governance Code are to be read as references to the equivalent provisions in the Combined Code for accounting periods beginning before 29 June 2010. For the avoidance of doubt, in DTR 7.2.8 G, Combined Code provision A.4.6 and B2.1 became UK Corporate Governance Code provisions B.2.4 and D.2.1 respectively. | From 29 June 2010 to 28 December 2011 | 6 August 2010 | ||
19 | DTR 4.1 , DTR 4.2 and DTR 4.3 | R | The rules on annual financial reports (DTR 4.1), half-yearly financial reports (DTR 4.2) and interim management statements (DTR 4.3) do not apply to issuers of exclusively debt securities the denomination per unit of which is at least 50,000 euros or in the case of debt securities denominated in a currency other than euro, the value of such denomination per unit is at the date of the issue equivalent to at least 50,000 euros which have already been admitted to trading on a regulated market in the EU before 31 December 2010. [Note: article 8.1 TD] | From 1 July 2012 for as long as the debt securities to which (19) applies are outstanding | 1 July 2012 | ||
20 | DTR 6.1.15 R | R | Where only holders of debt securities whose denomination per unit amount to at least 50,000 euros or for debt securities denominated in a currency other than euro, the value of such denomination per unit is equivalent to 50,000 euros at the date of issue, are to be invited to a meeting, the issuer may choose as a venue any EEA State, provided that all the facilities and information necessary to enable such holders to exercise their rights are made available in that EEA State, and only where those debt securities have already been admitted to trading on a regulated market in the EU before 31 December 2010. [Note: article 18 TD] | From 1 July 2012 for as long as the debt securities to which (20) applies are outstanding. | 1 July 2012 | ||
21 | DTR 6.2.8 R | R | Where debt securities whose denomination per unit amount to at least 50,000 euro, or for debt securities denominated in a currency other than euro, the value of such denomination per unit is equivalent to 50,000 euros at the date of issue, and such debt securities are admitted to trading in one or more EEA States, regulated information must be disclosed to the public in either a language accepted by the competent authorities of the Home State and Host States or in a language customary in the sphere of international finance, at the choice of the issuer or of the person who, without the issuer's consent, has requested such admission. [Note: article 20 TD] | From 1 July 2012 for as long as the debt securities to which (21) applies are outstanding. | 1 July 2012 |
- 01/07/2012
DTR Sch 1
[to follow]
- 06/10/2009
- 06/10/2009
DTR Sch 2
[to follow]
- 06/10/2009
- 06/10/2009
DTR Sch 3
[to follow]
- 06/10/2009
- 06/10/2009
DTR Sch 4
Powers Exercised
- 06/10/2009
4.1
See Notes
The following powers and related provisions in or under the Act have been exercised by the FSA to make the rules in DTR: | |
Section 73A (Part 6 Rules) | |
Section 89A (Transparency rules) | |
Section 89B (Provision of voteholder information) | |
Section 89C (Provision of information by issuers of transferable securities) | |
Section 89D (Notification of voting rights held by issuer) | |
Section 89E (Notification of proposed amendment of issuer's constitution) | |
Section 89F (Transparency rules: interpretation etc) | |
Section 89G (Transparency rules: other supplementary provisions) | |
Section 89O (Corporate governance rules) | |
Section 96 (Obligations of issuers of listed securities) | |
Section 96A (Disclosure of information requirements) | |
Section 96C (Suspension of trading) | |
Section 99 (Fees) | |
Section 101 (Part 6 rules: general provisions) | |
Section 138 (General rule-making power) | |
Section 156 (General supplementary powers) | |
Schedule 7 (The Authority as Competent Authority for Part VI) |
- 06/10/2009
4.2
See Notes
- 06/10/2009
DTR Sch 5
[to follow]
- 06/10/2009
- 06/10/2009
DTR Sch 6
Rules that can be waived
- 06/01/2011
- 06/01/2011