On 1 November 2010, HM Treasury published the Government's response to the Green Paper consultation 'Financing a Private Sector Recovery' setting out a comprehensive package of measures to support finance for businesses, particularly small businesses. As part of that package, the Government has announced that it intends to introduce two elements of the recently agreed revised Prospectus Directive early, namely:
- the threshold for an offer of securities for which a Prospectus is required will be raised from €2.5 million to €5 million; and
- the mininum number of non-qualified investors for which a Prospectus is required will increase from 100 to 150 investors.
The Government intends to consult early in 2011 on implementing these changes.