UK: the Financial Services and Markets Act 2000 (Liability of Issuers) Regulations 2010

The Financial Services and Markets Act 2000 (Liability of Issuers) Regulations 2010 were laid before Parliament on April 7 and come into force on October 1. A copy of the Regulations is available here (html) and here (pdf). In the accompanying explanatory memorandum - available here (pdf) - the purpose of the Regulations is explained as follows:

The purpose of these Regulations is to amend the Financial Services and Markets Act 2000 (FSMA) by substituting section 90A and inserting a new Schedule into the Act providing for a new regime for the liability of issuers to pay compensation to third parties who have suffered loss as a result of misstatements, or dishonest omissions in information published by the issuer, or dishonest delay by the issuer in publishing information".