Prospectus and Listing Rules amended

Supplementary prospectuses will need to be published as “as soon as practicable” in order to ensure that the information available before the end of an offer is as complete as possible under amendments to the Prospectus Rules (PRs) set out at the end of last month. The FSA has yet to issue a list of languages that meet the criteria of the language provisions in the PRs as customarily used in international finance though it says that English does so. Wholesale issuers of debt securities who volunteer to file an Annual Information Update will have to provide it for at least three years. In an amendment to PR5.6.5G, issuers, wherever domiciled, will be able to apply the valuation standards of either the Royal Institution of Chartered Surveyors (RICS) or the International Valuation Standards Committee.