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Proposed changes to listing arrangements
The Irish Stock Exchange has commenced a consultation process on proposed structural revisions of the Listing Regime for companies trading on the main securities market. The Consultation Paper follows on from the amended structure to the UK Listing Regime which was adopted by the Financial Services Authority in 2010.
Amongst the proposals contained in the paper are a relabeling of the primary and secondary listing regimes as Premium and Standard respectively. The Premium Listing would require compliance with all existing requirements of the ISE Listing Rules. A Standard Listing would require a company to comply with minimum standards as outlined in various EU Directives.
If a new ISE Listing Regime is adopted it will come into effect before the end of 2011. Submissions in respect of the consultation are required no later than Friday 1 July 2011.