The Prospectus Directive and ECM—prospectus requirements—financial information [Archived]
The Prospectus Directive and ECM—prospectus requirements—financial information [Archived]

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • The Prospectus Directive and ECM—prospectus requirements—financial information [Archived]
  • Brexit impact
  • European regulatory framework
  • UK regulatory framework
  • Three years' historical information
  • Operating and financial review
  • Further information and disclosures
  • Pro forma figures
  • Profit forecasts
  • Working capital statement
  • More...

STOP PRESS: On 21 July 2019, the Prospectus Regulation 2017/1129 became fully applicable in EU member states and the Prospectus Directive was repealed. The Prospectus Regulation now regulates when a prospectus is required to be published in respect of an offer of securities to the public in the UK or the admission of securities to trading on a regulated market in the UK. The FCA has aligned the FCA Handbook with the provisions of the Prospectus Regulation by deleting the Prospectus Rules in their entirety and replacing them with the Prospectus Regulation Rules sourcebook. For more information see Practice Note: The Prospectus Regulation—essentials and The Prospectus Regulation—is a prospectus required?.

ARCHIVED: This archived Practice Note is not maintained and is for background information only. For more information, see Practice Note: The Prospectus Regulation—essentials.

This Practice Note sets out the financial information disclosure requirements for a prospectus in connection with an offer of securities to the public or admission of securities to trading on a regulated market in the UK, eg an initial public offer (IPO), on the London Stock Exchange's Main Market for listed securities under the old Prospectus Directive regime as formerly set out in the Prospectus Rules (PR) published by the Financial Conduct Authority (FCA). It does not cover the general information disclosure requirements.

For the general information disclosure requirements under the old Prospectus Directive

Popular documents