Amendments to the Prospectus Directive - A positive development for equity issues?
09-Jul-2012 | Capital Markets, Corporate
Changes to the Prospectus Directive were implemented across Europe on 1 July 2012. The Directive, which dates back to 2003, requires both offers of securities to the public and applications for admission to a regulated market in the EU to be accompanied by a prospectus approved by the competent regulator, being the FSA in the case of the UK.
The idea behind the changes is to reduce some of the burden on issuers and the amendments fall into two broad categories: extending the exemptions from the requirement to publish a prospectus and some important adjustments to the disclosure regime where a prospectus is required.
We review some of the more notable changes here.
Lawyers Tandeep Minhas, Jane Hyde
