European Structured Products: Legal and Regulatory Materials

Prospectus Directive

PRIPs

12/19/2012 FAQs
An updated list of questions and answers was compiled by ESMA to provide further clarification on areas of the Prospectus Directive and Prospectus Regulation as requested by market participants.
02/29/2012 Final Report - ESMA's Technical Advice on Possible Delegated Acts Concerning the Prospectus Directive as Amended by Directive 2010/73/EU – Part 1
This final report, covering the second part of ESMA’s technical advice to the Commission on the Prospectus Directive, included ESMA’s finalised proposals for using a prospectus in a retail cascade and provided input on how to review the provisions of the Prospectus Regulation concerning tax information, indices, auditor’s report on profit forecasts and estimates and audited historical financial information. This final report was drawn up further to the responses received to an ESMA consultation paper issued on 13 December 2011.
10/04/2011 Final Report - ESMA's Technical Advice on Possible Delegated Acts Concerning the Prospectus Directive (as amended by Directive 2010/73/EU) – Part 2
On 20 January 2011, ESMA received a formal request from the European Commission to provide technical advice to the Commission on possible delegated acts concerning the revised Prospectus Directive. As part of the process for producing its advice, ESMA published, on 15 June 2011, a consultation paper covering: (i) format of the final terms; (ii) format of the summary of the prospectus and detailed content and specific form of the key information to be included in the summary; and (iii) a proportionate disclosure regime. This final report serves as both a summary of the feedback received pursuant to the consultation and also contains ESMA’s final technical advice to the Commission.
07/07/2011 The Prospectus Regulation (UK Implementation) - SI 2011 No. 1668
This Regulation amended two provisions of the Financial Services and Markets Act 2000 (FSMA), in order to implement the Amending Directive. The measures in the Amending Directive update the original Prospectus Directive, which dictates when and how a prospectus must be published when securities are offered to the public or admitted to trading on a regulated market. The two FSMA provisions concerned are deregulatory in nature, helping businesses, and small businesses in particular, to raise equity finance more efficiently. An explanatory memorandum was included in conjunction with the Regulation.
11/04/2003 Prospectus Directive (2007/71/EC)
The Prospectus Directive and accompanying Regulation, effective from July 1, 2005, established a harmonised format and content requirement for prospectuses issued in Europe. This allowed companies to use a single prospectus to list on any European markets without having to re-apply for approval from the local regulator. Both the Prospectus Regulation and Directive have been amended by the following pieces of legislation, amongst others: (i) Amending Regulation 486/2012; (ii) Amending Regulation 862/2012; and (iii) Amending Directive (2010/73/EU).
Mofo Materials

European Structured Products: Legal and Regulatory Materials Prospectus Directive

European Structured Products: Legal and Regulatory Materials

Prospectus Directive