This is perhaps the most important section from a valuation perspective, as it gives a detailed analysis of the profit and loss account. It contains actual financial information from previous years, as well as financial projections by the management of the target company. 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. You can write CIMs for debt deals, as well as for distressed M&A and restructuring deals where your bank is advising the debtor. When the law does not authorize the written disclosures, the PPM acts as anti-fraud requirement for the federal and state government. Besides this, the issuer must not make any false statements when offering securities to the investor. Please don’t confuse my MOU Templates with other MOU Templates. My templates are leading-edge templates not available anywhere else, that enable you to document all of the important aspects of your arrangement while making sure you have your butt covered.