On 4 December 2025, the European Commission (Commission) issued a consultation on a draft Delegated Regulation amending Delegated Regulation (EU) 2019/980 on the reduced content and the standardised format and sequence of the EU Follow-on prospectus and the EU Growth issuance prospectus.
Background
Regulation (EU) 2024/2809 introduced several amendments to the Prospectus Regulation
On 28 November 2025, the Financial Conduct Authority (FCA) updated its webpage on Consultation Paper 25/29: Changes to the UK Short Selling Regime. The update provides that the FCA has now published a derivation and changes table to further support firms’ understanding of the proposals. This details how the FCA has proposed to
On 15 July 2025, the Financial Conduct Authority (FCA) published its final rules in relation to reform of the UK prospectus regime in PS 25/9: New rules for the public offers and admissions to trading regime, largely adopting the approach proposed in its consultation last Summer. This is the latest step in the
On 24 June 2025, the Australian Securities and Investments Commission (ASIC) updated its guidance for Australian financial services (AFS) licensees on how they can reduce share sale fraud risks to their clients and business. The update follows a spike in reports of stolen shares due to identity theft and an industry
The Managed Funds Association urged the SEC and the CFTC to further delay the compliance date on new requirements to private fund reporting, citing operational burdens and ongoing regulatory changes.
The full update can be found here on our US Regulatory Intelligence platform.
At a meeting of the SEC’s Small Business Capital Formation Advisory Committee, SEC Chair Paul Atkins and Commissioner Hester Peirce emphasized the need to lower costs and to reexamine the utility of Regulation A (“Conditional Small Issues Exemption”) as a capital-raising tool.
The full update can be found here on our US Regulatory Intelligence platform.
After undertaking a legal analysis, the SEC Division of Corporation Finance concluded “that the offer and sale of Covered Stablecoins, … do not involve the offer and sale of securities within the meaning of [the Securities Act or the Exchange Act].”
The full update can be found here on our US Regulatory Intelligence platform.
On 8 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report containing technical advice on amendments to the research provisions in the MiFID II Delegated Directive (Commission Delegated Directive (EU) 2017/593 of 7 April 2016) in the context of the Listing Act (Regulation (EU) 2024/2809 and Directive (EU) 2024/2810).
House Republicans urged the SEC to reform current rules on shareholder proposals, warning that “the politicization of the proxy process continues to place a substantial burden on public companies[.]”
The full update can be found here on our US Regulatory Intelligence platform.