On 26 July 2019, the Association for Financial Markets in Europe (AFME) published a revised version of its model equity selling restrictions to reflect the application in full of the Prospectus Regulation that came into force on 21 July 2019.

The updated version of the equity selling restrictions replaces references to the Prospective Directive with the new Prospectus Regulation and reflects that the Regulation is directly applicable in all EEA Member States and that no implementing measures are required at a national level. The AFME has also included separate versions of the equity selling restriction for insertion into transaction contractions such as underwriting agreements and prospectuses respectively, and a selling restriction addressing additional UK securities laws for insertion into transaction contracts.