On July 24, the European Commission (the Commission) adopted a legislative proposal to amend the Prospectus Regulation and assist with the recapitalization of companies that have been affected by the COVID-19 pandemic (the Proposal).
The key changes under the Proposal are:
Continue Reading COVID-19: European Commission Adopts Proposal to Amend Prospectus Regulation
On February 8, the European Securities and Markets Authority (ESMA) published a document listing the thresholds relating to the value of an offering of securities to the public below which such an offer does not require a prospectus to be prepared in accordance with Regulation (EU) 2017/1129 (Prospectus Regulation).
Continue Reading ESMA Publishes List of Thresholds Below Which an EU Prospectus Is Not Required
On July 13, the European Securities and Markets Authority (ESMA) published a press release announcing two consultations with respect to the new EU Prospectus Regulation.
The first consultation paper contains draft technical advice on the minimum content for the information that must be made available to investors when applying for a certain exemption from the requirement to produce a prospectus. The second consultation paper includes draft guidelines on the risk factors featured in a prospectus. While the guidelines are addressed to national competent authorities, the guidelines indicate that financial market participants should take them into account when preparing prospectuses.
Continue Reading EU Prospectus Regulation: ESMA Consults on Minimum Information Content for Exemption and Guidelines on Risk Factors and Publishes Final Report on RTS
