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Key points from UK prospectus regime reform consultation

Published on: 27 August 2024
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Table of contents

  • Background
  • When a prospectus is required
  • UK regulated market
  • Primary MTFs
  • Protected forward-looking statements
  • US position
  • Equity issuers—key considerations
  • Debt issuers
  • Next steps
  • Conclusion

Article summary

Law360, Expert analysis: On 26 July 2024, the Financial Conduct Authority (FCA) published a consultation paper proposing reforms to the UK prospectus regime. The proposed reforms have significant implications for initial public offerings and secondary equity issuances where securities are to be admitted to trading on a UK regulated market, such as the main market of the London Stock Exchange (LSE), or a UK multilateral trading facility (MTF), such as AIM. Written by Vanessa Blackmore, partner, Ben Perry, partner, and Matthew Triggs, practice area associate, at Sullivan & Cromwell LLP.

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