AIM Listing of Plus500 on Hold Due to Pending FCA Approval
- The shares of the company will remain listed until the official approval from the U.K. financial regulator comes due
If some of you have wondered why the shares of Plus500 are still trading on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term’s (LSE) Alternative Investments Market (AIM), the company has issued an official statement to clarify the current status of its public listing.
According to the regulatory filing with the LSE, as previously stated when the companies announced that CySEC has approved the takeover deal between Playtech and Plus500 Ltd, the U.K. Financial Conduct Authority (FCA) approval is still missing.
The companies expect the agreement to be closed by the latest November, with some indications of an October move by the regulator remaining a possibility. The delisting of the shares of Plus500 from the LSE’s AIM market will occur only after the formal approval by the UK financial regulator.
At this juncture, the time that the FCA is taking to approve the deal is within its standard terms. The brokerage and its buyer have stated that they will keep the market updated on the progress of the regulatory approval.
Last May. the brokerage was forced to suspend its services after the FCA established that Plus500 wasn’t diligent enough in its Anti-Money Laundering (AML) Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) procedures.
After the company took steps to comply with the regulatory requirements its regular service resumed. By the time the events unfolded, the shares of the brokerage had tanked about 70 percent. After a short period during which the market pondered the real value of the company in the aftermath of the FCA action, Playtech approached the broker with a takeover offer, valuing Plus500 at 400 pence per share.
If some of you have wondered why the shares of Plus500 are still trading on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term’s (LSE) Alternative Investments Market (AIM), the company has issued an official statement to clarify the current status of its public listing.
According to the regulatory filing with the LSE, as previously stated when the companies announced that CySEC has approved the takeover deal between Playtech and Plus500 Ltd, the U.K. Financial Conduct Authority (FCA) approval is still missing.
The companies expect the agreement to be closed by the latest November, with some indications of an October move by the regulator remaining a possibility. The delisting of the shares of Plus500 from the LSE’s AIM market will occur only after the formal approval by the UK financial regulator.
At this juncture, the time that the FCA is taking to approve the deal is within its standard terms. The brokerage and its buyer have stated that they will keep the market updated on the progress of the regulatory approval.
Last May. the brokerage was forced to suspend its services after the FCA established that Plus500 wasn’t diligent enough in its Anti-Money Laundering (AML) Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) procedures.
After the company took steps to comply with the regulatory requirements its regular service resumed. By the time the events unfolded, the shares of the brokerage had tanked about 70 percent. After a short period during which the market pondered the real value of the company in the aftermath of the FCA action, Playtech approached the broker with a takeover offer, valuing Plus500 at 400 pence per share.