UK FCA Primary Market Bulletin No.58 – POATRs regime

The UK Financial Conduct Authority (FCA) has published Primary Market Bulletin 58, setting out updates to its guidance in the Knowledge Base, in preparation for the new Public Offers and Admissions to Trading Regulations (POATRs) regime, which will take effect on 19 January 2026. Specifically, the FCA: (i) confirms that from 1 December, issuers will be able to submit draft prospectuses, registration documents, and other relevant materials for review, with a view to seeking formal approval on or after 19 January 2026. The FCA intends to publish updated forms and checklists on its webpage to accompany these submissions; and (ii) provides feedback on its consultation in PMB 57, finalising two technical notes, TN 710.2 (Sponsor Services: Principles for Sponsors) and TN 638.1 (Complex Financial Histories and Significant Financial Commitments).

Additionally, the FCA is consulting on new draft technical notes described in policy statement PS25/9, which are intended to take effect alongside the POATRs regime, proposes updates to 42 existing notes and the deletion of seven notes from the Knowledge Base. The deadline for comments on the four new technical notes and proposed updates to PN 902, TN 602, TN 619, TN 628, TN 801 and TN 802 is 5 December. For all other notes it is 21 November. The FCA plans to finalise these updates in a further Primary Market Bulletin to be published shortly before the new rules come into force in January 2026.

Return to main website.