§ Mrs. LawrenceTo ask the Chancellor of the Exchequer what changes in the arrangements for dissemination of price-sensitive information by officially-listed companies are planned following the proposed transfer of the UK Listing Authority from the London Stock Exchange to the Financial Services Authority. [102027]
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§ Miss Melanie JohnsonListed 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. I have therefore asked the FSA to undertake a review of the arrangements for the dissemination of price sensitive information by listed companies and to come forward with amendments to the current Listing Rules requirements in this area. The FSA will be launching a consultation exercise with interested parties to devise alternative arrangements.