The Impact of FSMA on Securities Offerings - The Regulatory Framework Explained

Introduction

Any person making an offer of securities in, from or into the UK needs to understand the regulatory environment that controls whether, and if so, how, offerings can be made.

What is allowed, and how it can be done, depends on the investments being offered, by whom and how.

Sometimes strict regulatory requirements apply, and at other times a network of exemptions and exclusions to those requirements can lead to a less onerous process.

This webinar explains the framework for offering securities outside of the public offers regime.

It is suitable for anyone involved in securities offerings, whether as an issuer, broker or adviser. It will also be of interest to investors and their advisers.

What You Will Learn

This webinar will cover the following:

• Categories of entity that may offer securities, definition of ‘transferable securities’ and why this makes a difference
• Key defined terms such as ‘marketing’, ‘offer to the public’ and ‘financial promotion’ and the types of activity that fall within them
• Institutional and retail offerings and the differing regulatory requirements that apply, including key exemptions to prospectus and financial promotion restrictions
• The extent to which activities carried out by issuers and their advisers may fall within the scope of ‘regulated activities’ under the Financial Services and Markets Act 2000
• Other topical issues such as the effect of Brexit, regulatory change, and the attitude of the regulators

This webinar was recorded on 28th May 2024

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