For the purposes of the Listing Rules (www.practicallaw.com/7-107-6774) and Prospectus Rules (www.practicallaw.com/7-200-9260), a document required under the Prospectus Directive (www.practicallaw.com/8-200-9274) which gives details of a company (and any guarantor) and its securities. Broadly, a prospectus is required if a company makes an offer to the public, or requests admission to trading on a regulated market (www.practicallaw.com/5-200-9275), of transferable securities (www.practicallaw.com/9-200-9278) in the UK. The contents of a prospectus are prescribed by the Prospectus Regulation (www.practicallaw.com/4-200-9266), the Prospectus Rules (www.practicallaw.com/7-200-9260) and the Financial Services and Markets Act 2000 (www.practicallaw.com/A36104). Prospectuses must be approved by a competent authority before publication. In most cases this must be the competent authority of the home member state (which, in the UK, is the Financial Conduct Authority (www.practicallaw.com/5-107-5761)).
The glossary to the FCA Handbook (www.practicallaw.com/5-107-6609) sets out the full definition of this term. When considering this term in the context of financial services, reference should be made to the FCA Handbook glossary definition of prospectus.