• MKT 3.11 MKT 3.11 The Regulator's power to direct disclosure

    • Guidance

      Section 75 of the FSMR gives the Regulator the power to direct a Reporting Entity to disclose specified information to the market or take such other steps as the Regulator considers appropriate where it is satisfied that it is in the interest of the ADGM to do so.

    • MKT 3.11.1

      (1) The Regulator will, pursuant to its power under section 76 of the FSMR, issue a written notice directing a Reporting Entity of a Listed Fund (a "Direction Notice") to disclose specified information to the market and to take any other steps as the Regulator considers appropriate:
      (a) where it fails to comply with an obligation to disclose any information under the FSMR and these Rules;
      (b) to correct or prevent a false market if the Regulator reasonably considers that there is or is likely to be a false market in the Units of the Listed Fund;
      (c) where there is a rumour or media speculation in relation to the Reporting Entity or the Listed Fund that has not been confirmed or clarified by an announcement by the Reporting Entity made in accordance with Rule 3.5.1 and such rumour or media speculation is or is reasonably likely to have an impact upon the price of the Units; or
      (d) where it is in the interests of:
      (i) actual or potential investors;
      (ii) market integrity; or
      (iii) the ADGM.
      (2) A Reporting Entity which receives a Direction Notice issued pursuant to (1) must comply with the terms of that notice.