On March 1, 2022, the U.K. Government published its response to a consultation started in July 2021 to reform the U.K.’s prospectus regime. The consultation built on the recommendations of the U.K. Listing Review, which was led by Lord Hill, formerly the U.K.’s European Commissioner, and on which we reported here. The Government’s stated aims are to simplify the regulation in this area, to facilitate wider participation in the ownership of public companies, to improve the quality of information investors receive and to ensure that the regulation of prospectuses will be better able to respond to innovation and change.