Against a backdrop of significant UK and EU regulatory reform, continued innovation in bond market infrastructure and evolving product labelling, issuers and underwriters will be focused on how legal and regulatory change translates into transaction structuring, disclosure and execution in practice.
This year’s Outlook highlights four main themes:
- The transition to the new UK prospectus regime and the replacement of UK PRIIPs with the new UK Consumer Composite Investments regime.
- Implementation of the final amendments to the EU Prospectus Regulation and EU Market Abuse Regulation via the EU Listing Act, the end of transitional arrangements under the EU Green Bond Regulation and the emergence of a regulatory framework for ESG ratings.
- Ongoing digitalisation and standardisation in the bond markets, from digital bonds and tokenisation to the Bond Data Taxonomy and ICSD dematerialisation initiatives.
- Emerging product and market developments, including labelled defence and transition bonds and the impact of prudential and benchmark reforms.
For further information, please contact:
Andrew Chaplin, Partner, Linklaters
andrew.chaplin@linklaters.com
