COVID-19 – CapitalXchange

UK FCA Updates on COVID-19 Issues for Listed Companies

Cooley — Tue, 09 Jun 2020 15:51:33 +0000

On May 27, 2020, the Financial Conduct Authority in the UK published a newsletter outlining its continuing expectations of issuers in the UK on market conduct and transaction reporting issues. The FCA also published a Primary Market Bulletin setting out updates for issuers on temporary relief for the timing of the publication of half-yearly financial reports, going concern assessments and…

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10 Key Considerations for IPOs During COVID-19

Cooley — Tue, 05 May 2020 18:26:10 +0000

Despite the COVID-19 pandemic and associated stock market difficulties, some IPOs are getting done. Prior to the pandemic, IPO timelines for the rest of 2020 were largely focused on navigating around the upcoming U.S. elections. The focus has now shifted to the duration and impact of the pandemic, and when for a particular company is its business at a point where it can consider going public.

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Cooley Supports Petition to SEC for E-Signatures

Cooley — Mon, 04 May 2020 15:34:00 +0000

Cooley, together with Wilson Sonsini Goodrich & Rosati and Fenwick & West, has submitted a petition to the SEC requesting a rule change to allow companies to use electronic signatures in their filings. Today, companies are required to sign many SEC filings, including registration statements filed in connection with IPOs, manually, as well as retain the originals of those manually signed copies for…

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UK Pre-Emption Group Provides Temporary Additional Flexibility for Pre-Emption Disapplication Authorities

Cooley — Thu, 02 Apr 2020 14:30:00 +0000

The UK Pre-Emption Group (PEG) issued a statement, published on April 1, 2020, regarding its expectations for non-pre-emptive issues by companies listed in the UK in the context of the coronavirus pandemic. The PEG recommends that investors, on a case-by-case basis, consider supporting non-pre-emptive issues by companies of up to 20% of their issued share capital until September 30…

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COVID-19 Updates for UK + European Capital Markets: FCA, FRC + PRA Joint Statement, AIM Guidance and ESMA Public Statement

Cooley — Mon, 30 Mar 2020 14:03:00 +0000

In light of the COVID-19 pandemic, several key updates for UK and European capital markets have recently been released, focusing primarily on financial reporting, including a joint statement by the Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA), an Inside AIM publication by the London Stock Exchange (LSE) and a public statement from…

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Practical Observations on Preparing Prospectuses Under the New Prospectus Regulation

Cooley — Wed, 11 Dec 2019 13:54:00 +0000

On 21 July 2019 the new Prospectus Regulation (Regulation (EU) 2017/1129) (the “œNew Prospectus Regulation “) regime repealed and replaced the previous Prospectus Directive ( “œPD2 “) regime in all EU Member States. In this briefing we explore the impact of the New Prospective Regulation on issuers producing a prospectus in relation to equity shares for review by the Financial Conduct…

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