The FSMA (Prospectus and Markets in Financial Instruments) Regulations 2018 take effect on 21 July and amend two of the thresholds that trigger the requirement to produce a prospectus. The changes reflect the 2017 EU Prospectus Regulation and:
- increase the threshold amount for offers to trigger the prospectus requirement from €100,000 to €8 million; and
- reduce the threshold below which offers are exempt from the prospectus regime altogether from €5 million to €1 million.