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CS Professional · IFSCA - Regulations, Listing and Compliances · Listing and Issuance of Securities

Lotus Foods Ltd, listed in GIFT IFSC, changes its compliance officer mid-year. Which course of action best reflects good continuous-listing practice?

The company should inform the exchange of the change in a timely manner. The compliance officer is the exchange's point of contact for listing obligations, so key changes must be reported promptly rather than deferred to the annual report or AGM.

  1. AInform the exchange of the change in a timely manner, as it is a development affecting compliance oversightCorrect
  2. BKeep the change internal until the next annual report
  3. CInform only shareholders at the next AGM
  4. DTake no action, since the role is not significant

Explanation

A listed entity should keep the exchange updated on key personnel changes relevant to compliance. Delaying until the annual report or AGM leaves the exchange without a point of contact. Treating the role as insignificant ignores its function.

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