LSE and ESMA Revise Guidance on the Potential Impact of a “No-Deal Brexit”

12 September 2019
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Key takeaways:
  • The LSE and ESMA have revised their guidance to dual-listed companies, investment firms and other market participants on the potential impact of a “no deal” Brexit.
  • If the UK leaves the EU with no deal and the EU does not grant the UK equivalence status, the EU share trading obligation will no longer apply to UK-listed shares.
  • UK requirements on the content of prospectuses will be aligned with the prospectus content requirements under the EU prospectus regime following a “no deal” Brexit.