MKT 6.11 MKT 6.11 DFSA Power to Direct Disclosure
MKT 6.11 Guidance
Article 50 of the Law gives the
DFSAthe power to direct a Reporting Entityto disclose specified information to the market or take such other steps as the DFSAconsiders appropriate where it is satisfied that it is in the interest of the DIFCto do so.Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
MKT 6.11.1(1) The
DFSAwill, pursuant to its power under Article 50(1) of the Law, issue a written notice directing a Reporting Entityof a Listed Fund(a "direction notice") to disclose specified information to the market and to take any other steps as the DFSAconsiders appropriate:(a) where it fails to comply with an obligation to disclose any information under the Law and the Rules;(b) to correct or prevent a false market if the DFSAreasonably considers that there is or is likely to be a false market in the Unitsof the Listed Fund;(c) where there is a rumour or media speculation in relation to the Reporting Entityor the Listed Fundthat has not been confirmed or clarified by an announcement by the Reporting Entitymade in accordance with Rule 6.5.1 and such rumour or media speculation is or is reasonably likely to have an impact upon the price of the Units; or(d) where it is in the interests of:(i) actual or potential investors;(ii) market integrity; or(iii) the DIFC.(2) A Reporting Entitywhich receives a direction notice issued pursuant to (1) must comply with the terms of that notice.