ICMA responds to HM Treasury’s UK Prospectus Regulation Regime Review
23 September 2021 ICMA has responded to HM Treasury’s consultation on the UK Prospectus Regulation on 23 September. ICMA members’ overarching concern is to ensure that the currently well-functioning and efficient pan-European primary wholesale bond market is not disrupted or subjected to unnecessary additional or disproportionate costs. HM Treasury’s proposed approach does not give rise to these concerns immediately, although much will depend on the precise approach taken with respect to exemptions from the public offer regime and the approach taken in relation to “wholesale” disclosure for bonds admitted to trading on UK markets. ICMA looks forward to engaging on these issues and related matters with the UK authorities as the UK Prospectus Regulation regime evolves.