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.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
Look at other dictionaries:
FSMA overview — Introduction Implementation of the Financial Services and Markets Act 2000 (FSMA) completed the vesting of supervisory responsibilities in the regulator, the Financial Services Authority (FSA), and rationalised and substantially replaced the… … Law dictionary
connected person — The scope of this phrase differs according to the legal context and the statutory definition which applies. Broadly it covers family members trusts, companies controlled by individuals and similar entities. Easyform Glossary of Law Terms. UK law… … Law dictionary
Disclosure Rules — The rules for issuers on the disclosure and control of inside information and transactions by persons discharging managerial responsibilities and their connected persons. These rules are contained in the Financial Services Authority s Disclosure… … Law dictionary
close period — 1) A period of time during which managers and employees of a listed company are prohibited from dealing in the company s securities. 2) Under the Model Code of the Listing Rules, a period of time during which persons discharging managerial… … Law dictionary
restricted person — Under the Model Code of the Listing Rules, a person discharging managerial responsibilities or an employee insider. Related links employee insider … Law dictionary
Model Code — A requirement of the Listing Rules. In accordance with their continuing obligations, listed companies must require persons discharging managerial responsibilities to comply with the Model Code in order to restrict their ability to deal in the… … Law dictionary
Judicial system of the People's Republic of China — For the Ministry of Justice, see Ministry of Justice of the People s Republic of China. People s Republic of China This article is part of the series: Politics and government of … Wikipedia
France — /frans, frahns/; Fr. /frddahonns/, n. 1. Anatole /ann nann tawl /, (Jacques Anatole Thibault), 1844 1924, French novelist and essayist: Nobel prize 1921. 2. a republic in W Europe. 58,470,421; 212,736 sq. mi. (550,985 sq. km). Cap.: Paris. 3.… … Universalium