Although it will usually contain similar elements to a business plan, a PPM is intended to provide an objective view of your company, whereas a business plan is usually more oriented towards marketing your company and therefore less objective. The prospectus must be approved by the competent authority in the United Kingdom, which is currently the Financial Conduct Authority (FCA) in its capacity as the United Kingdom Listing Authority. If the purpose of the prospectus is to induce people to engage in an investment activity, it will also need to be issued or approved by an 'authorised person' or it will constitute an unlawful financial promotion under section 21 of the Financial Services and Markets Act 2000. Publication of information in relation to the issue of securities in the United Kingdom is governed by the Prospectus Rules, which implement the European law Prospectus Directive. A prospectus must be published where certain types of securities either are offered to the public or are requested for admission on a regulated market. If you were in their situation, what would you want to know? Think for a moment about the important details. But you definitely need strong reading comprehension skills, or you’ll miss crucial information and make the wrong decisions as a result. This heading is only missing the title or position of the person who is sending it. Make sure when you send a memo that you are clear what your position is.