In a number of publications this week, the FCA has set out its expectations of market conduct during COVID-19 and provided updated guidance for listed companies in relation to the timetable for publishing their half yearly financial reports.
The key areas of focus of these updates are:
- extending the timetable for publishing financial reports;
- addressing issuers concerns around the impact of uncertainty caused by COVID-19 on financial reports; and
- providing guidance on the FCA’s expectations of how the market will approach financial reporting and disclosures during these unprecedented times.
We will be taking a more in depth look at these developments next week so keep an eye out for our next update.
If you would like advice on the latest changes please do get in touch.
Written by Amy Carr
In this special edition, we publish a statement on temporary relief for the timing of the publication of half yearly financial reports. We also include a statement on market practice on ‘going concern’ assessments. This follows difficulties raised by issuers about how to address coronavirus-related uncertainties in the ‘going concern’ assessment and their disclosure in financial statements. Further, we provide commentary on our view on issuers’ engagement with shareholders at this time, and issuers’ role in delivering ‘soft pre-emption’ in placings.