Media information and services provider PIMS has received a boost
in its bid to become a Primary Information Provider (PIP) in the UK.
The company believes its acquisition this month of CCN Newswire and
Matthews Media Directories in Canada will help its chances of gaining
Financial Services Authority (FSA) approval of PIP status.
CCN Newswire already provides financial disclosures in Canada.
The financial watchdog must give its approval before the status, which
allows firms to disclose financial news and information, can be given.
PIMS has submitted its application to the FSA and is awaiting its
Financial news is presently disclosed by the London Stock Exchange's
regulatory news service (RNS).
Others to have submitted applications for approval include PRNewswire,
Businesswire and the London Stock Exchange. An announcement on which
companies will be approved is expected in the autumn. The new system is
planned to come into effect at the start of next year.
PIMS' Canadian acquisitions are believed to be worth around £20m.