Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department has had any discussions with the Financial Conduct Authority regarding the valuation transparency of BrewDog's Equity for Punks scheme.

The government does not comment on individual firms’ commercial activities.

In 2024, the government delivered the Public Offers and Admissions to Trading Regulations which enabled the Financial Conduct Authority (FCA) to reform the UK Prospectus Regime to make it simpler and more effective. This new regime took effect on 19 January 2026, and will give investors access to better quality information to support their investment decisions.

The regulations also created a new regulated activity of operating a Public Offer Platform (POP). Companies seeking to make public offers of securities outside a public market to a broad investor base, where the value exceeds £5 million, will now need to do so via a POP, ensuring investors receive better information about their investments.