ARTICLE
27 October 2025

Capital Markets – Regulations Made Implementing The New Prospectus Regime

KL
Herbert Smith Freehills Kramer LLP

Contributor

Herbert Smith Freehills Kramer is a world-leading global law firm, where our ambition is to help you achieve your goals. Exceptional client service and the pursuit of excellence are at our core. We invest in and care about our client relationships, which is why so many are longstanding. We enjoy breaking new ground, as we have for over 170 years. As a fully integrated transatlantic and transpacific firm, we are where you need us to be. Our footprint is extensive and committed across the world’s largest markets, key financial centres and major growth hubs. At our best tackling complexity and navigating change, we work alongside you on demanding litigation, exacting regulatory work and complex public and private market transactions. We are recognised as leading in these areas. We are immersed in the sectors and challenges that impact you. We are recognised as standing apart in energy, infrastructure and resources. And we’re focused on areas of growth that affect every business across the world.
Regulations to implement the new regime for public offers of securities in January 2026 have been made.
United Kingdom Finance and Banking
Herbert Smith Freehills Kramer LLP are most popular:
  • within Finance and Banking, Coronavirus (COVID-19) and Environment topic(s)
  • in European Union

Regulations to implement the new regime for public offers of securities in January 2026 have been made.

The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 will repeal the current prospectus regime contained in the UK Prospectus Regulation and related legislation on 19 January 2026. The regime will be replaced on the same date by the new public offers regime set out in the Public Offers and Admissions to Trading Regulations 2024 and the Financial Conduct Authority's new rules for prospectuses, set out in its 'Prospectus Rules: Admission to Trading on a Regulated Market sourcebook' (which were finalised in its policy statement PS25/9).

The Public Offers and Admissions to Trading (Amendment and Consequential and Transitional Provisions) Regulations 2025 have also been made. These regulations, amongst other things, make consequential amendments to financial services legislation to reflect the new regime.

For further information about the new regime, see our blog posts here and here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More