In the hope that the United Kingdom leaves the European Union with an economic deal with that body in place, the Financial Conduct Authority is planning to give effect to the EU's Prospectus Directive when it comes into force in the EU on 21 July.

If the UK departs from the EU without a deal, to which the FCA refers as "an implementation period," it will not proceed with its proposals.

The initial Prospectus Directive came into force in July 2005. As an EU directive, it did not apply directly in the UK and had to be transposed into domestic law through the Financial Services and Markets Act and the FCA’s PR sourcebook. An amending directive changed it in 2010.