Search Legislation

The Traded Securities (Disclosure) Regulations 1994

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

More Resources


This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Obligation to disclose information

3.—(1) Subject to paragraph (2) below, a company or undertaking which is an issuer of a security admitted to trading on a regulated market (an “issuer”) shall inform the public as soon as possible of any major new developments in the issuer’s sphere of activity which are not public knowledge and which may, by virtue of their effect on the issuer’s assets and liabilities or financial position or on the general course of its business, lead to substantial movements in the price of that security.

(2) A recognised investment exchange which regulates and supervises a regulated market on which an issuer’s securities are admitted to trading may exempt the issuer from the obligation imposed by paragraph (1) above if satisfied that the disclosure of the particular information would prejudice the legitimate interests of that issuer.

(3) The rules of a recognised investment exchange must, at least, enable the exchange, in the event of a failure by an issuer whose securities are admitted to trading on a regulated market which the exchange regulates and supervises to comply with the obligation imposed by paragraph (1) above, to do any of the following, that is to say—

(a)discontinue the admission of the securities to trading;

(b)suspend trading in the securities;

(c)publish the fact that the issuer has failed to comply with the obligation; and

(d)itself make public any information which the issuer has failed to publish.

Back to top


Print Options


Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.


Opening Options

Different options to open legislation in order to view more content on screen at once


More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources