The Prospectus Directive (2003/71/EC) was repealed on 21 July 2019. For details of the current prospectus regime, see Practice note, New Prospectus Regulation (corporate aspects). Prospectuses that were approved before this date will continue to be governed by the prospectus regime in place prior to 21 July 2019, including the national legislation that implemented the Prospectus Directive, until they are no longer valid or until twelve months has elapsed since 21 July 2019, whichever is earlier.

This note sets out a brief introduction to the Prospectus Directive, its implementation in the UK and links to Practical Law resources on the Directive.