UK to allow research payments bundling, reform secondary offering prospectus requirements

UK to allow research payments bundling, reform secondary offering prospectus requirements

UK financial regulator The Financial Conduct Authority (FCA) has announced that it will be setting out new rules and proposals to build up UK wholesale markets. The FCA said it has set out a package of measures designed to help strengthen the UK’s capital markets and position as a global and vibrant financial centre.

Proposals for new public offers and admissions to trading regime

Key to the package are proposed rules to establish the new Public Offers and Admissions to Trading Regime (POATRs), which will replace the existing UK Prospectus Regulation.

Under the proposals, companies will still be required to publish a prospectus when first admitting securities to public markets. However, a prospectus would not be required when a company raises further capital except in limited circumstances.

Together with other existing disclosure obligations, these proposals will make sure investors get the information they…
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