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Latham & Watkins LLP

The New UK Prospectus Regime

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On 15 July 2025, the FCA published PS25/9 and PS25/10 outlining its final rules for the new Public Offers and Admissions to Trading regime, which will supersede the existing UK Prospectus Regulation from 19 January 2026. This...more

Stikeman Elliott LLP

CSA Announce Measures to Support Canadian Markets and Issuers

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The Canadian Securities Administrators (“CSA”) recently announced measures to support the competitiveness of Canadian capital markets in response to the current uncertainty in global markets. The measures are being...more

Paul Hastings LLP

UK Equity Capital Markets Insights — March 2025 - UPDATED

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The end of 2024 and start of 2025 saw a flurry of activity and publications from the FCA, with the UK financial markets regulator continuing to consult on, and revise, its rulebooks, including to advance a more attractive and...more

Morrison & Foerster LLP

Update Kapitalmarkt- und Gesellschaftsrecht

Das ursprünglich am 7. Dezember 2022 durch die EU-Kommission vorgelegte Maßnahmenpaket, das unter dem Titel „EU Listing Act“ bekannt ist, wurde nun endlich im November 2024 im Amtsblatt der Europäischen Union veröffentlicht....more

Dorsey & Whitney LLP

Comparison of Canadian and U.S. Securities Laws

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Last month, I was invited to speak to the Canadian Securities Administrators, focusing on how U.S. securities exemptions, prospectus forms, and continuous disclosure requirements differ from their Canadian counterparts. One...more

Latham & Watkins LLP

Key Regulatory Updates for Hong Kong Listed Companies - September/October 2024

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The updates include an information paper on implementing an uncertificated securities market, and a joint announcement on an enhanced timeframe for a new listing application process....more

Latham & Watkins LLP

FCA Launches Consultations on the New Prospectus Regime and Public Offer Platforms

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On 26 July 2024, the FCA published consultation papers on a new public offers and admissions to trading regime to replace the existing UK Prospectus Regulation, and on proposals to establish public offer platforms (POPs) as a...more

Barnea Jaffa Lande & Co.

Israel Securities Authority: Oversight of Unsupervised Entities

In recent times, there has been an increasing trend of supervision by the Israel Securities Authority (ISA) over non-supervised entities. This may seem paradoxical: if these entities are not under supervision, why does the...more

Barnea Jaffa Lande & Co.

Israeli Private Companies and Prospectus Obligations

Barnea Jaffa Lande & Co. on

A considerable number of Israeli private companies raise funds and approach prospective investors without a comprehensive understanding of the regulatory obligations mandated by the Securities Law. A pivotal provision in this...more

BCLP

Corporate Briefing - August 2023

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Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue, we discuss...more

Latham & Watkins LLP

FCA Publishes Further Engagement Papers on Prospectus Reforms

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The FCA reveals its initial thinking on the regulatory framework for primary multilateral trading facilities and public offer platforms. On 13 July 2023, the FCA published its fifth and sixth engagement papers to solicit...more

Latham & Watkins LLP

Recent Developments for UK PLCs - June Edition

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This edition covers proposed major reforms to the listing and prospectus regimes, corporate governance reforms largely relating to audit and internal controls, and proposed changes to the Takeover Code affecting the...more

Goodwin

Overhaul of the UK Listing Regime Continues - A Consideration of the FCA’s Most Recent Proposals Which Are Most Relevant to Growth...

Goodwin on

On 3 May 2023, the UK Financial Conduct Authority (the “FCA”) published significant further proposals in a consultation paper (CP23/10) for reforming the UK listing regime....more

Latham & Watkins LLP

UK Pre-Emption Group Issues Updated Statement of Principles

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The updated Statement of Principles will have an immediate impact on UK listed companies, providing increased flexibility to undertake larger non-pre-emptive capital raisings. On 4 November 2022, the Pre-Emption Group...more

Eversheds Sutherland (US) LLP

SEC adopts significant changes to shareholder reports for N-1A filers and amendments to investment company advertising rules

On October 26, 2022, the Securities and Exchange Commission (SEC) adopted final rule and form amendments (Final Rule) that significantly alter the form and content of annual and semi-annual shareholder reports provided by...more

Holland & Knight LLP

Se reglamentan los bonos con destinación específica en Colombia

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La Superintendencia Financiera de Colombia (SFC) expidió recientemente la Circular Externa 020 del 29 de julio de 2022 mediante la cual se define el contenido que deberán tener aquellos prospectos de información que tengan...more

A&O Shearman

UK Prospectus Reform Inches Forward

A&O Shearman on

On March 1, 2022, HM Treasury published its conclusions on the consultation it launched in July 2021 on major reforms to the U.K.’s prospectus regime. That consultation followed on from Lord Hill’s Listing Review which made...more

Latham & Watkins LLP

Wholesale Markets Review Consultation Response Aims for “Tailored” UK Approach

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The consultation response heralds innovation-friendly reform to the UK wholesale capital markets regime. On 1 March 2022, HM Treasury published its response to the July 2021 consultation on the Wholesale Markets Review...more

BCLP

HM Treasury response to UK Prospectus Regime Review

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As recommended by Lord Hill, the Government has set out its policy approach to reform the UK prospectus regime. This includes separating the regulation of public offers of securities from the admission of securities to...more

Latham & Watkins LLP

UK Government Announces Fundamental Overhaul of the UK Prospectus Regime

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The changes indicate a more dynamic and flexible UK prospectus regime with the FCA to play a central role through enhanced rule-making powers. On 1 March 2022, the UK government (through HM Treasury (HMT)) announced the...more

BCLP

FCA Primary Market Effectiveness Review

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Following on from the FCA’s consultation on the effectiveness of the Primary Market, the FCA has published final rules on, amongst other things, free float and minimum market capitalisation, which come into force on 3...more

Skadden, Arps, Slate, Meagher & Flom LLP

Are You Ready for a Hong Kong IPO?

With ongoing regulatory developments affecting capital markets globally, many China-related businesses are considering pursuing their IPOs in Hong Kong. However, the regulatory regime for IPOs on the Stock Exchange of Hong...more

Latham & Watkins LLP

ESMA Publishes Guidance on SPACs

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ESMA warns against investor protection risks and provides guidance on expected disclosures. On 15 July 2021, ESMA published a statement on the prospectus disclosure and investor protection issues raised by special...more

Barnea Jaffa Lande & Co.

Israel Securities Authority: Guidelines for Discussions with Investors Prior to Publication of a Prospectus

A wave of IPOs continues to flood the market, prompting the Israel Securities Authority to publish a new staff position paper discussing three key topics. Information disclosures In principle, the Israeli Securities Law...more

BCLP

FCA consultation on Primary Markets Effectiveness

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Lord Hill’s review of the Listing Regime along with the Kalifa Review of UK FinTech highlighted specific elements of the listing regime that act as barriers to companies listing. According to the Lord Hill’s review, the...more

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