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ACCA Strategic Professional · Advanced Financial Management · Regulatory framework and processes

Under the UK City Code on Takeovers and Mergers, which body is responsible for administering the Code and the rulings made under it?

The Takeover Panel administers the City Code on Takeovers and Mergers. It issues rulings and supervises bids for relevant UK companies. Other bodies such as the CMA, FRC and London Stock Exchange have different roles covering competition, reporting and market operation rather than administering the Code.

  1. AThe Takeover PanelCorrect
  2. BThe Financial Reporting Council
  3. CThe Competition and Markets Authority
  4. DThe London Stock Exchange

Explanation

The Takeover Panel is the independent body that administers the City Code, issues rulings and supervises bids for UK companies. The CMA reviews competition aspects, the FRC deals with reporting and audit standards, and the LSE operates the market and its listing-related arrangements, so none of those administers the Code.

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