Equity capital markets — supplementary prospectuses: when are they required?
On 15 March 2013, the European Securities and Markets Authority (ESMA) published a consultation paper on a draft regulatory and technical standard (RTS) concerning situations which, if they arise, will always require the publication of a supplement to the prospectus. Responses must be submitted by 14 June 2013.
A procedure was established in the Prospectus Directive (Directive 2003/71/EC) to ensure that every significant new factor, material mistake or inaccuracy relating to information in the prospectus
which is capable of affecting the assessment of the securities is published in a supplement to the prospectus.
The consultation paper sets out a draft RTS concerning situations that will require the publication of a supplement to the prospectus which ESMA is obliged to develop in accordance with the Prospectus Directive. The listed situations are concrete examples of the general obligation in Article 16(1) of the Prospectus Directive to publish in a supplement every significant new factor, material mistake or inaccuracy relating to information included in the prospectus which is capable of affecting the assessment of the securities…
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
The government has issued a response to its consultation on the administration of shared parental leave and pay.
A contract for insulation work on boilers at a power station was originally granted to Kitsons in December 2010.
Analysis from The Lawyer
The Lawyer’s latest Top 50 litigation firms list shows that business for dispute specialists is roaring along while new in-depth detail reveals the winning strategies
The Russian legal market faces a new era as the government opens the door to greater business transparency, but not everything is open to scrutiny