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United Kingdom
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Key definition
UK Prospectus Regulation definition

What does UK Prospectus Regulation mean? The core UK regime setting when a prospectus is required, what it must contain, and how it is approved and published by the FCA for public offers of transferable securities or admissions to trading on a UK regulated market. It underpins IPOs and debt issuances and the use of prospectus exemptions. In legislation, “UK Prospectus Regulation” means Regulation (EU) 2017/1129 as it forms part of retained EU law under the European Union (Withdrawal) Act 2018, as amended by UK secondary legislation. It operates alongside FSMA 2000 (including ss.90 and 90A liability) and the FCA’s Prospectus Regulation Rules. Key features include: public offer...

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Archived legislative and guidance index for UK debt capital markets prospectuses: from the onshored Prospectus Regulation to the Public Offers and Admissions to Trading Regulations

Practice notes
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ARCHIVED: This Practice Note was archived and is not maintained.

STOP PRESS: The UK’s Prospectus framework, formerly grounded in the EU Prospectus Regulation, has been superseded by the Public Offers and Admission to Trading Regulations 2024 (POATRs). Detailed requirements for admission to trading now sit within the Financial Conduct Authority (FCA) admission rules. The FCA released its final rules (PS25/9) on 15 July 2025, and the new regime took effect on 19 January 2026. In October 2025, the FCA’s Primary Market Bulletin 58 offered guidance on the timing and approval of prospectuses (and supplementary prospectuses), and confirmed that Listing Particulars have been removed as an admission document under the new framework. For more on the principal features of the POATRs relevant to Debt capital markets, see The UK Prospectus Regulation-essentials [Archived]-Reform of the UK prospectus regime. This legislation guide collates UK legislative materials pertinent to transactional work on debt capital markets prospectuses relating to the UK Prospectus Regulation, level 2 measures and statutory instruments (SIs), alongside relevant proposals, consultations and FCA guidance...

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Web page updated on 28/05/2026

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