FSA brings forwarrd start of new disclosure regulations

The Financial Services Authority (FSA) has backtracked on its plans to introduce its new regime governing the disclosure of CFDs in the autumn. Under pressure from bodies such as the Investor Relations Society the regulations will now come into force on 1 June 2009.

The aim of the new rules is to prevent the use of CFDs on an undisclosed basis to seek to influence corporate governance or build up stakes in companies. This will bring disclosure of holdings of CFDs and other similar financial instruments into line with the current Major Shareholdings Notifications regime under the DTRs for UK incorporated issuers.

Peregrine Riviere, chairman of the Investor Relations Society said: 'This is the culmination of over two years of lobbying by the Society to bring CFDs within the scope of the disclosure regime for economic interests in companies.'