Misleading statements, omissions and delay in UK prospectuses and published information: FSMA 2000 s 90 and s 90A/Schedule 10A; POATRs reg 30 and PFLS—claims, elements, defences and remedies

Published by a LexisNexis Dispute Resolution expert

Practice notes

Note: as of 19 January 2026, the Public Offers and Admissions to Trading Regulations 2024 (POATRs), SI 2024/105, came into force. They govern the public offers of securities and the admission of securities to trading in the UK from 19 January 2026, and are therefore applicable where the prospectus or listing particulars were issued on or after that date. A key element of the updated regime is the repeal of section 90 of the Financial Services and Markets Act 2000 (FSMA 2000) and its substitution by regulation 30 and Schedule 2 of the POATRs, together with specific provisions concerning the inclusion and use of ‘protected forward-looking statements’ (PFLS) in such prospectuses/listing particulars. See New Analysis: the UK listing and prospectus regime reform—potential impact on securities litigation. This Practice Note addresses claims for compensation under the statutory FSMA 2000 framework (as amended) for liability arising from certain misleading information disseminated by companies under:

FSMA 2000, s 90—liability for misleading statements or omissions of specified information in or from a prospectus or listing particulars (only relevant where the prospectus or listing particulars were published before 19 January 2026)
POATRs, SI 2024/105, reg 30
FSMA 2000, s 90A and Sch 10A—liability for misleading...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...