Exact(8)
The regulator has created a new category with its premium listing regime to allow the state-owned company to list on the London Stock Exchange.
Margaret Cole, director of enforcement and financial crime at the FSA, said: "This is the largest fine of its type issued by the FSA and demonstrates our commitment to enforcing the UK listing regime and ensuring clean, efficient and orderly markets".
The FCA, which verifies the companies listed on the LSE's main market, said: "The objective of the listing regime is to provide effective securities regulation based on the disclosure of information to the market, to enable investors to make well-informed decisions and to support effective shareholder engagement.
By proposing a new category within its premium listing regime for state-controlled enterprises that would make it easier for the Gulf oil giant to comply, the Financial Conduct Authority has aroused the concerns of the Treasury Select Committee, the Institute of Directors and City investors.
Changes to the country's stock listing regime were also blamed for the slump.
"As a consequence, the listing regime does not prescribe specific requirements over jurisdiction, nor does it prohibit specific types of corporate structure".
Similar(52)
The legislative review was well-publicized and facilitated through a website where the government posted a consultation paper listing specific questions regarding the regime.
On January 25, Donald Trump's regime listed the Atlantic Coast Pipeline among the top priorities for infrastructure projects.
In our study we instituted the quality control regime listed in table 1 and did not suffer data or phone losses, albeit in a much younger population.
In his general assembly address, George Bush hardly mentioned Iran, only listing it as a "brutal regime" alongside Belarus, Syria and North Korea.
In 1995, less than two years after Omar al-Bashir's dictatorial regime was listed by the U.S. government as a state sponsor of terror, oil-hungry Beijing approached oil-rich Khartoum with offers of a partnership.
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