It disgusts me to think about how many hours I could have spent doing other, much more enjoyable things. In addition, the heading has the date, which is important to include so that the reader knows how recent the memo is. 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. 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. Whether you are conducting a private or public offering for debt or equity issuance, our team can ensure that your offering memorandum is structured to maximize success. The materials are limited to factual information and must include a brief description of the company's business, the experience of the chief executive officer, and a statement that no money is being solicited or accepted. These solicitations of interest must be filed with the SEC on the date first used.