Equity capital markets — proportionate disclosure checklist
In September 2009, the European Commission published proposals to amend the Prospectus Directive with the aim of simplifying its application and increasing efficiency. The proposals culminated in the publication of Directive 2010/73/EU, which amended the Prospectus Directive and came into force on 31 December 2010. The Amending Directive was implemented in the UK with effect from 1 July 2012. One of the key changes was the creation of a new proportionate disclosure regime (PDR).
Under the PDR, certain information that would otherwise need to be included in a prospectus may be omitted by certain issuers or in relation to certain offers. The creation of the PDR was driven by the recognition that the previous disclosure requirements of the Prospectus Regulation could be disproportionately burdensome for some issuers and the costs involved in accessing the financial markets could have a deterrent effect. The PDR aims to ease these financial and administrative burdens while ensuring a harmonised approach to reduced disclosures…
If you are registered and logged in to the site, click on the link below to read the rest of the Hogan Lovells briefing. If not, please register or sign in with your details below.
News from Hogan Lovells
News from The Lawyer
Briefings from Hogan Lovells
MOFCOM has been drafting rules implementing the Interim Regulation on the Standards Applicable to Simple Cases of Concentrations between Business Operators.
The new Companies Ordinance (Cap. 622), which came into effect on 3 March 2014, is a substantial rewrite of Hong Kong companies law.
Analysis from The Lawyer
Beyond the headline infrastructure projects, UK construction work is still recovering from the clobbering it took during the slump
When a firm shouts loudly about a landmark merger, as SJ Berwin did when it joined forces with King & Wood Mallesons, departures are always likely to come under the spotlight.