On 26 March 2019, the Association for Financial Markets in Europe (AFME) published a document containing wording setting out the selling restrictions for equity transactions for use following a no-deal Brexit or a Brexit with a deal/transitional period, as applicable.

The wording within the document covers those selling restrictions that are most frequently used in practice. These comprise an EEA public offer selling restriction covering public offers in the EEA” (on “no deal” this means the EU 27 plus Iceland, Norway and Liechtenstein) and a new UK public offer restriction.