Shearman & Sterling LLP | Financial Regulatory Developments Focus | European Commission Adopts New Technical Standards under the Prospectus Regulation
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  • European Commission Adopts New Technical Standards under the Prospectus Regulation
    03/14/2019
    The European Commission has adopted a draft Delegated Regulation containing Regulatory Technical Standards on requirements for:
    • key financial information to be set out in the summary of a prospectus;
    • the publication of a prospectus;
    • the classification of prospectuses and practical arrangements to ensure machine readability of the classifications;
    • advertisements and their dissemination;
    • situations where the publication of a supplement to the prospectus is required; and
    • technical arrangements necessary for the functioning of the notification portal.

    The adopted RTS will repeal Commission Delegated Regulation (EU) No 382/2014 on the publication of supplements to a prospectus and Commission Delegated Regulation (EU) 2016/301 on the approval and publication of the prospectus and dissemination of advertisements.

    The adopted RTS will enter into force 20 days after they are published in the Official Journal of the European Union, which will take place once it is approved by the European Parliament and the Council of the European Union. The adopted RTS will apply directly across the EU from July 21, 2019, which is when the remainder of the Prospectus Regulation applies.

    View the adopted RTS.

    View the annexes to the adopted RTS.

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    TOPIC: Securities