The new UK prospectus regime is due to come into force, together with changes to the UK product governance regime, on 19 January 2026 (including a desire to promote retail participation) – with the new CCI regime expected to replace the UK PRIIPs regime on 6 April 2026. Meanwhile, the Listing Act review of the EU prospectus regime Level 2 provisions is now at an advanced stage stage (with a Commission consultation anticipated in the first quarter of 2026) and the Retail Investment Strategy review of the EU MiFID investor protection and PRIIPS regime Level 1 provisions may be reaching the final stages of trilogue negotiations. The EU’s new Savings and Investment Union project is also emerging, with any potential implications for the primary bond markets remaining to be seen.