Primary Threshold meaning

The planned reforms aim to strengthen the appeal of the UK’s capital markets. They carry notable consequences for IPOs and secondary equity raises where securities will be admitted to trading on a UK regulated market, such as the LSE’s Main Market, or on a UK multilateral trading facility (MTF), such as AIM. Market rulebooks set the eligibility thresholds, admission conditions and ongoing duties once on a primary MTF, and for issuers of debt securities on a UK regulated market. Background The consultation follows the adoption earlier this year of the Public Offers and Admission to Trading Regulations, which created the framework for the planned overhaul of the UK prospectus regime. In particular, it is proposed that: offering securities to the public will be barred unless an exemption applies, with a key exemption where the offer is conditional on the securities being admitted to trading on a UK‑regulated market or a primary MTF the liability threshold for investor claims concerning certain forward-looking statements (described as...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management UK MiFID II Consumer credit, mortgage and home finance Regulation of insurance Payment services and systems Fintech and cryptoassets LexTalk®Financial Services: a Lexis®Nexis community Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts Updated content Dates for your diary UK, EU and international regulators and bodies FCA seeks expressions of interest from UK and Swiss firms under the Berne Financial Services Agreement. The Financial Conduct Authority (FCA) is inviting firms in the UK and Switzerland to register interest in delivering cross-border...

In this issue: Brexit headlines Constitutional and administrative law Judicial review Equality and human rights Public procurement Management and strategic planning Information law State security and intelligence State accountability and liability Other Public Law news LexTalk®Public Law: a Lexis®Nexis community Daily and weekly news alerts New and updated content Free webinars Dates for your diary Trackers Useful information Brexit headlines Ayoola v Secretary of State for the Home Department In Ayoola v Secretary of State for the Home Department [2025] EWCA Civ 1519, the Court of Appeal upheld the Upper Tribunal’s refusal of the appellant’s application for settled status under the EU Settlement Scheme (EUSS). The dispute centred on the meaning of Articles 24 and 25 of the Withdrawal Agreement (OJ L 29, 31.1.2020) between the UK and the EU. The appellant, a Nigerian national who is the primary carer of a British child, whose father...

This Resource Note signposts pertinent commentary, analysis and materials to help with interpreting, and to give practical direction on applying, Chapter 3 of the Disclosure Guidance and Transparency Rules (DTR 3). Where appropriate, it draws on: the Financial Conduct Authority (FCA) Handbook FCA Knowledge Base guidance—Procedural and Technical Notes (which are formal guidance and bind the FCA) FCA consultation papers, discussion papers, policy statements, feedback statements and warnings Primary Market Bulletins and other FCA publications former UKLA technical and procedural notes, and the UKLA newsletter List!, where still relevant to interpreting or applying a provision assimilated EU legislation EU Directives and EU Regulations, where relevant to construing a provision Lexis+® UK analysis and resources Setting the scene What it covers: DTR 3 provides guidance on certain notification duties of issuers, persons discharging managerial responsibilities (PDMR) and their connected persons, regarding dealings on their own account in the issuer’s shares or debt instruments (or derivatives...

This Resource Note assembles pertinent commentary, analysis and resources to support interpretation and offer practical guidance on applying UKLR 7 of the UK Listing Rules, which details the requirements for a company with equity shares admitted to the equity shares (commercial companies) category in relation to significant transactions and reverse takeovers... the Financial Conduct Authority (FCA) Handbook FCA Knowledge Base guidance—Procedural Notes and Technical Notes (formal guidance binding on the FCA) FCA consultation papers (CP), discussion papers (DP), policy statements (PS) and feedback statements Primary Market Bulletins and other FCA publications former UKLA technical and procedural notes and the UKLA newsletter List!, where still relevant to interpreting or applying a provision assimilated EU legislation EU Directives and EU Regulations, where relevant to interpretation of a provision Lexis+® UK Practical Guidance and Lexis+® UK Legal Research resources UKLR 7—Setting the scene What it covers: UKLR 7 sets out the requirements for a company with equity shares listed...

While primary infringement usually involves, in most instances, the act of reproduction, secondary infringement concerns commercially dealing in infringing copyright works. Acts of secondary infringement Secondary infringing conduct comprises: importing; possessing; selling or dealing; providing the means for making copies; permitting the use of premises for an infringing performance; and supplying apparatus for an infringing performance. Unlike primary infringers, who are strictly liable irrespective of what they knew, secondary infringers must have knowledge of the infringement. Secondary acts address those further down the 'chain'. Copyright owners may seek assistance to prevent importation and block entry of infringing copies by writing to HMRC. Where proceedings are in prospect, a claimant should write to the prospective defendant, put them on notice, and allow a reasonable period to assess and evaluate the claims advanced against them. Those in the frame for infringement will bear close scrutiny of evidence adduced of independent effort and creativity at the disclosure stage of any...