Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether issuers of Exchange Traded Notes are required to comply with (a) the EU Prospectus Directive, (b) Listing Rules for the NASDNAQ and (c) Nordic Growth Markets.

With a limited number of exemptions, issuers of exchange traded notes (ETNs) in the UK are obliged to produce a prospectus under the Prospectus Regulation – which replaced the Prospectus Directive from 21 July 2019 – when offering ETNs to the public or admitting them to trading on a regulated market in the UK.

Issuers looking to admit securities, including ETNs, to trading on an exchange in another jurisdiction – including NASDAQ and the Nordic Growth Markets - must also comply with the admission requirements and rules of that jurisdiction.

The Government is committed to ensuring that the UK remains the best place in the world for FinTech.