On 1 March 2022, HM Treasury released its response to the UK Prospectus Regime Review following the conclusion of the consultation period in September 2021. The Government’s response confirms that it will be taking forward important reforms to the UK’s regime for the public issuance of securities and admission to trading on capital markets. The Government intends to replace the regime currently contained in the UK Prospectus Regulation and will legislate to do so when parliamentary time allows.
The key changes are concerned with:
- Admissions to trading on regulated markets;
- A new architecture for public offerings of securities in the UK;
- The "necessary information" test;
- Facilitating forward-looking information;
- Junior markets;
- Scope of the new public offerings regime;
- Private companies; and
- Public offerings from overseas.
To view the QCA's summary of the UK PRR outcome, please click here.
To view the QCA's response to the consultation, please click here.