HM Treasury News Release
7 December 1999
Miss Johnson also announced that, other than for a short transitional period following the transfer, the Listing Rules would no longer require companies to submit announcements to the Exchange's Company Announcements Office for distribution under the Regulatory News Service.
In response to a Parliamentary Question from Jackie Lawrence (Preseli Pembrokeshire), Miss Johnson said:
"Listed companies are currently required under the Listing Rules
to submit announcements to the Exchange's Company Announcements Office
for distribution to the public through the Regulatory News Service.
Although the Listing Rules do allow for simultaneous notification
of announcements to other news organisations, we consider it would
be inappropriate to retain this requirement other than for a transitional
period when, subject to Parliament approving the necessary legislation,
the FSA becomes the Competent Authority for listing.
1. The Chancellor announced on 4 October that, in the light of the
London Stock Exchange's proposal to demutualise and turn itself into
a commercial company, it had been decided to transfer its Listing
Authority function to the FSA. Legislation to effect the transfer
will be brought before Parliament in the New Year.