Disclosure and transparency rules
See especially rule DTR 5.1.3 - FCA Handbook Provision, which is part of the implementation of the Transparency Directive 2004/109/EC (EUR Lex))
Under the FCA Disclosure and Transparency Rules (DTRs) shareholders and holders of contracts for difference (CFDs) can sometimes incur notification requirements.
The DTRs include rules designed to ensure appropriate levels of transparency around the ownership of companies whose shares are admitted to trading on a regulated market such as the Main Market of the London Stock Exchange. The rules also apply to UK incorporated companies trading on an exchange-regulated markets, such as Plus Quoted or the Alternative Investment Market (AIM).
They require shareholders and holders of certain financial instruments relating to the shares to disclose to the issuer and to us when their holding reaches or falls below a given threshold.
There are a number of exemptions and revised thresholds for certain market participants, for instance custodians, and market-makers.
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