The CP sets out proposals for changes LR to ensure that they reflect properly recent changes in market practices. It proposes incorporate into the formal body of LR other relevant material such as technical notes. The principal areas in which changes are proposed are: reverse takeovers; sponsors; transactions; financial information and externally managed companies. The paper also raises some wider issues about the nature of the premium listing standard. Responses to the main proposals are required by 26 April 2012. FSA intends to publish its feedback and PS in the summer with the implementation of the rules coming into effect shortly afterwards. Regarding the wider issues mentioned above, FSA will, subject to responses, consider developing specific options or proposals for discussion in a further paper later this year. As part of this, it would also intend to consult on a number of further, more technical, amendments to LR that remain to be dealt with following this consultation.

The responses to this consultation have now been published and may be downloaded inpidually via the following link.