Listing rules review may hit convertibles

Linklaters points to possible effects of FSA compliance with EU rules

The review of the UK listing rules by the Financial Services Authority (FSA) may adversely affect the convertibles market by increasing the cost of new issues, according to Linklaters, the international law firm.

The FSA is reviewing its listing regime in order to comply with proposed EU securities legislation – particularly the Prospectus Directive – and to make the rules easier for issuers to use.

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