Following the recommendations of the Hill Review of the UK Listing Regime and certain consequential legislative changes, the FCA has now published its proposed new prospectus rules CP24/12, Appendix1 as part of the UK's new public offers and admissions to the trading regime – the biggest shake-up to the disclosure framework since 2005. While the driver of the rule changes is the desire to attract and retain more listed companies in London, they are likely to have an impact on securities litigation.
In this article, we consider the potential impact of the proposed new prospectus rules on claims brought by shareholders.