persons discharging managerial responsibilities
- persons discharging managerial responsibilities
-
• A director; or
• A senior executive of an issuer who:
o has regular access to inside information relating, directly or indirectly, to the issuer; and
o has power to make managerial decisions affecting the future development and business prospects of the issuer.
The glossary to the FSA Handbook sets out the full definition of this term. When considering this term in the context of financial services, reference should be made to the FSA Handbook glossary definition of person discharging managerial responsibilities.
+ FSA Handbook Definition
(in accordance with section 96B(1) of the Act):
(a) a director of an issuer:
(i) registered in the United Kingdom that has requested or approved admission of its shares to trading on a regulated market; or
(ii) not registered in the United Kingdom or any other EEA State but has requested or approved admission of its shares to trading on a regulated market and who is required to file annual information in relation to shares in the United Kingdom in accordance with Article 10 of the Prospectus Directive; or
(b) a senior executive of such an issuer who:
(i) has regular access to inside information relating, directly or indirectly, to the issuer; and
(ii) has power to make managerial decisions affecting the future development and business prospects of the issuer.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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