UK and EU prospectus and listing regulation: Where next?

In this podcast, Amanda Thomas, partner and Jennifer Cresswell, counsel in our International Capital Markets practice, share a short round-up of UK and EU prospectus and listing regulation developments post-Brexit, and what we expect to see in the near future.

With Brexit now nearly a year ago, the UK authorities are taking steps to move away from EU regulation that was onshored at the end of the transition period.  A “summer of consultations” saw the UK authorities busy on various fronts. HM Treasury consulted on possible changes to the UK prospectus regime and the Financial Conduct Authority tackled the questions of listing and primary markets effectiveness, and will inevitably be involved in further UK prospectus-related developments down the track.  With the European Commission also gearing up to report on the application of the EU Prospectus Regulation, it seems that the slew of consultations may turn 2022 into a year of divergence.

The Listing Act consultation referred to briefly in the podcast was published by the European Commission on 19 November, after the podcast was recorded.  We will be reviewing the consultation ahead of its closing date of 11 February 2022.