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1.—(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Liability of Issuers) Regulations 2010.
(2) These Regulations come into force on 1st October 2010.
2.—(1) The Financial Services and Markets Act 2000 is amended as follows.
(2) For section 90A (compensation for statements in certain publications) substitute—
90A. Schedule 10A makes provision about the liability of issuers of securities to pay compensation to persons who have suffered loss as a result of—
(a)a misleading statement or dishonest omission in certain published information relating to the securities, or
(b)a dishonest delay in publishing such information.”.
(3) After Schedule 10 insert the Schedule 10A contained in the Schedule to these Regulations.
3.—(1) The amendments made to the Financial Services and Markets Act 2000 by these Regulations have effect in relation to information first published on or after 1st October 2010.
(2) Section 90A of that Act, in the form inserted by the Companies Act 2006, continues to apply to information first published before that date.
Dave Watts
Tony Cunningham
Two of the Lords Commissioners of Her Majesty’s Treasury
7th April 2010
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