Prospectus redaction is the removal of personal identifiers from an offering draft before it is approved and published. A public offer of transferable securities needs an approved prospectus under FSMA 2000 s.85, and the FCA approves it against the necessary-information test in s.87A and UK Prospectus Regulation Art. 6. Nothing in that test asks for a signatory's home address or National Insurance number. anonym.plus marks each name, account and contact on your own machine, so the disclosure stays whole while private data goes.
When this applies
A draft names directors, signatories and their contact details across many pages. Once the document is published it stays on the National Storage Mechanism for years, so you trim the identifiers before the team lodges it with the FCA.
How anonym.plus handles it
- Open the draft in anonym.plus on your workstation.
- Local OCR reads any scanned signature or exhibit page.
- The tool flags names, accounts, and contact details.
- Keep the mandated disclosure items and figures intact.
- Replace each identifier with a label, or black it out.
- Save the clean version locally; it never leaves your device.
What you need to provide
- The draft (PDF, DOCX, or TXT).
- An operator: Replace (swap), Redact (black out), or Mask (partial).
- Optional: a name map if you must re-link people later.
PII & financial identifiers detected
| Category | anonym.plus entity type | Example |
|---|---|---|
| Names | PERSON | director M. Caldwell → [DIRECTOR] |
| Financial | UK_BANK_NUMBER | escrow acct 4412 → [ACCOUNT] |
| Contact | EMAIL_ADDRESS | ir@example.co.uk → [EMAIL] |
| Contact | PHONE_NUMBER | +44 20 7946 0147 → [PHONE] |
| Identifiers | UK_NINO | signatory NINO → [NINO] |
| Location | LOCATION | registered office → [ADDRESS] |
Compliance achieved
- Keeps the necessary-information standard of UK Prospectus Regulation Art. 6 and FSMA 2000 s.87A readable while personal data goes.
- The registration-document annexes of the retained Delegated Regulation (EU) 2019/980 ask for a director's name, function and business address — never a home one.
- Supports eligibility and sponsor work under the FCA's UK Listing Rules (UKLR), in force since 29 July 2024.
- An unapproved draft is still a financial promotion under FSMA 2000 s.21, so keep circulation tight.
- Working copies are kept safe with AES-256-GCM; 340+ PII types across 48 languages in one pass.
Anonymise prospectuses offline — see plans & start free →
Limitations & cautions
Prospectus liability under FSMA 2000 s.90 attaches to what the document says, so never cut a required item to hide a person. The tool flags named items, yet it cannot judge when a unique fact points to someone. Review narrative sections with counsel before lodging.
Frequently asked questions
Does this change the disclosures the prospectus rules require?
No. The app removes personal identifiers only. The necessary information under UK Prospectus Regulation Art. 6 and the items in the retained Delegated Regulation (EU) 2019/980 annexes stay in place.
Is the draft uploaded for processing?
No. anonym.plus is a 100% offline desktop app. Nothing is sent to a server, so the deal stays confidential on your machine.
Why redact before publication rather than after?
Regulated information filed under the DTRs stays on the National Storage Mechanism indefinitely. Once published, a home address cannot be recalled.