New public offers and admissions to trading regime: FCA publishes final rules

The FCA has published the final version of its prospectus rules under the new public offers and admissions to trading regime that will replace the current regime on 19 January 2026. Most of the existing rules relating to prospectuses and admissions to trading will be carried across into the new regime broadly as they are, with some targeted changes impacting issuers of debt securities. The overall aim of the new rules is to reduce the costs for issuers of admitting securities to trading on UK regulated markets, make capital raising easier for issuers and remove barriers to retail participation. We have published a briefing summarising the key points relevant to debt capital markets.