Prospectus Regulation roadmap
Prospectus Regulation roadmap

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Prospectus Regulation roadmap
  • Introduction to the Prospectus Regulation roadmap
  • CHAPTER I: General provisions
  • CHAPTER II: Drawing up the prospectus
  • CHAPTER III: The content and format of the prospectus
  • CHAPTER IV: Arrangements for approval and publication of the prospectus
  • CHAPTER V: Cross-border offers and admissions to trading on a regulated market and use of languages
  • CHAPTER VI: Specific rules in relation to issuers established in third countries
  • CHAPTER VII: ESMA and competent authorities
  • CHAPTER VIII: Administrative sanctions and other administrative measures
  • more

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This has an impact on this Practice Note. For guidance, see Practice Note: Brexit—impact on finance transactions—Brexit planning and impact—key issues for debt capital markets transactions and Brexit—impact on finance transactions—Derivatives and debt capital markets transactions—key SIs.

Introduction to the Prospectus Regulation roadmap

The Prospectus Regulation (EU) 2017/119 (PR) was published in the Official Journal of the European Union (EU) on 30 June 2017 and entered into force on 20 July 2017. The Prospectus Regulation significantly amends the obligations to issue a prospectus set out in the Prospectus Directive 2003/71/EC (the PD). As amended, the majority