The Prospectus Regulation—prospectus format and contents


Published by a ³ÉÈËÓ°Òô Banking & Finance expert
Practice notes

The Prospectus Regulation—prospectus format and contents


Published by a ³ÉÈËÓ°Òô Banking & Finance expert

Practice notes
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In this Practice Note, links are given to the relevant provisions of EU and/or UK legislation, as applicable, and significant divergence between EU and UK legislation is indicated.

Background to the Prospectus Regulation

Regulation (EU) 2017/1129 (the EU Prospectus Regulation) was published in the Official Journal of the EU on 30 June 2017. The EU Prospectus Regulation is a product of the European Commission’s Capital Markets Union (CMU) project.

Brexit—onshoring of the EU Prospectus Regulation

HM Treasury established a process under the European Union (Withdrawal) Act 2018 (EU(W)A 2018) for domesticating EU law to ensure legal continuity following the UK’s exit from the EU. EU(W)A 2018 was subsequently amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), which makes provision for the ratification and implementation in domestic law of the Withdrawal Agreement between the UK and the EU.

The Withdrawal Agreement sets out the arrangements for the UK’s withdrawal from the EU. It includes a transition period (or, to use the UK government’s phraseology, the ‘implementation period’) beginning on 31 January 2020 and ending

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Key definition:
Prospectus definition
What does Prospectus mean?

A document, prepared by the lead manager to an issue containing all the pertinent information about a public offering of securities and about the borrower and guarantor, if any. It is made available to the appropriate legal authorities, stock exchanges and prospective investors. A preliminary prospectus is generally dispatched at the beginning of the subscription period and a final prospectus is dispatched immediately after both the final terms have been fixed and the subscription agreement has been signed by the borrower and the managers.

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