TISE simplifies its Continuing Obligations

With effect from 1 July 2022, The International Stock Exchange has updated its Listing Rules to clarify, simplify and streamline certain requirements, meaning the continuing obligations of an Issuer will be easier to comply with.

This reflects global market practice and the requirements of other major bond markets which adopt a proportionate risk-based approach.

In brief, these changes include:-  

  • General Notifications and Director Information:  These must be made "as soon as reasonably practicable", rather than within a fixed 10 day period, meaning more flexibility.
  • Financial information:  An issuer need only provide financials in certain specified circumstances.  However, an issuer may, where its financial information is publicly available, publish a one-off announcement on the TISE website, with a web link to its financial information and filing deadline.
  • Sanctions,  Legal and Regulatory Proceedings: An issuer must now notify the Authority if the issuer or any director of the issuer becomes subject to government sanction, or faces formal legal or regulatory proceedings for market abuse or other financial crimes.

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Anna SlusarczykListings AssistantT +44 (0) 1481 748 904anna.slusarczyk@walkersglobal.com

Jonathan HeaneyManaging PartnerT +44 (0)1534 700 786jonathan.heaney@walkersglobal.com
Nigel WestonPartnerT +44 (0)1534 700 788nigel.weston@walkersglobal.com
Grace PickeringHead of Listings - Channel IslandsT +44 (0) 1534 700 714 grace.pickering@walkersglobal.com

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