Financial Markets Conduct (Catalist Public Market) Regulations 2021

6 Purpose

The purpose of these regulations is to enable Catalist Markets Limited to operate a market—

(a)

with market rules that—

(i)

contain alternative disclosure provisions, in place of continuous disclosure provisions, that require Catalist issuers to disclose material information no later than the start of, and during, each auction; and

(ii)

provide for modified requirements relating to financial reporting to apply to Catalist issuers (see regulation 12(1), which provides that those issuers are not FMC reporting entities by reason only of being listed issuers on the Catalist Public Market); and

(b)

that takes into account the needs and objectives of—

(i)

small- and medium-sized issuers, including by reducing the costs of listing for those issuers; and

(ii)

investors by increasing investment opportunities, including by providing for alternative disclosure provisions to deal with information asymmetries in the market.