CESR published a guide for market participants which establishes a convergent response from all EU securities supervisors to commonly asked questions on the day-to-day application of the EU legislation regarding the preparation of prospectuses.
The guide focuses on responses to queries that are likely to have an EU-wide impact on market participants or end users, and therefore on the smooth functioning of the Single Market. Some of the agreements aim at facilitating the correct functioning of cross-border offers. The rest are responses to questions on the application of the legislation that have been arising frequently in most Member States.
CESR is currently working on an analysis of the impact that the Directive is having on the EU markets and is seeking to identify any practical day-to-day difficulties encountered with the passport and other relevant provisions of the Prospectus Directive.
An open hearing that will take place in Paris before the end of 2006.
Press release
Frequently asked questions
© CESR - Committee of European Securities Regulators
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