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UK FCA consults on omitting certain financial information from debt listing documents

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UK FCA consults on omitting certain financial information from debt listing documents

The U.K. Financial Conduct Authority launched a publicconsultation to assess whether certain financial information may be omittedfrom debt listing documents, as part of the regulator's measures to enhance theBritish debt listing regime.

Adoption of this measure should result in more simplifiedlisting documentation.

The regulator also plans to extend the scope of its approachto examining wholesale debt documents and the scope of its same-day service forreviewing prospectus supplements. In addition, the FCA aims to introduce a teamto help prospective overseas issuers understand better the process of listingdebt securities in the U.K. These are scheduled to take effect May23.

The watchdog will also seek to make the listing process moreuser-friendly.

The FCA developed these measures with input from a group ofstakeholders in U.K. primary debt capital markets. The group includedparticipants from the government, trade associations and the industry,including Louise Kelly from Barclays Plc, Iain Jones from and DavidHopkins from Royal Bank ofScotland Group Plc's Royal Bank of Scotland Plc.