The new EU prospectus rules offer more flexibility in choosing different prospectus formats for raising capital. Issuers can now decide between the uniform registration document (URD) and simplified prospectus based on their needs and the type of securities they issue. The option to file annual and half-yearly reports as a URD may reduce costs for some issuers. However, the 'frequent issuer status' may not provide significant benefits compared to existing competent authorities. Overall, there is room for improvement in the URD system in the future.